0001289308-21-000043 | 10-Q | XBRL Viewer

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Cover Page - shares	3 Months Ended
Cover Page - shares	Jul. 04, 2021	Aug. 06, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 04, 2021
Document Transition Report	false
Entity File Number	001-32253
Entity Registrant Name	EnerSys
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	23-3058564
Entity Address, Address Line One	2366 Bernville Road
Entity Address, City or Town	Reading
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19605
City Area Code	610
Local Phone Number	208-1991
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	ENS
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		42,523,261
Entity Central Index Key	0001289308
Current Fiscal Year End Date	--03-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Condensed Balance Sheets - USD ($) $ in Thousands	Jul. 04, 2021	Mar. 31, 2021
Current assets:
Cash and cash equivalents	$ 406,233	$ 451,808
Accounts receivable, net of allowance for doubtful accounts: July 4, 2021 - 12,607; March 31, 2021 - 12,992	580,961	603,581
Inventories, net	563,914	518,247
Prepaid and other current assets	148,692	117,681
Total current assets	1,699,800	1,691,317
Property, plant, and equipment, net	499,185	497,056
Goodwill	712,877	705,593
Other intangible assets, net	423,594	430,898
Deferred taxes	65,940	65,212
Other assets	71,049	72,721
Total assets	3,472,445	3,462,797
Current liabilities:
Short-term debt	40,260	34,153
Accounts payable	293,377	323,876
Accrued expenses	271,106	318,959
Total current liabilities	604,743	676,988
Long-term debt, net of unamortized debt issuance costs	1,020,416	969,618
Deferred taxes	77,384	76,412
Other liabilities	202,476	196,203
Total liabilities	1,905,019	1,919,221
Commitments and contingencies
Equity:
Preferred Stock, $0.01 par value, 1,000,000 shares authorized, no shares issued or outstanding at July 4, 2021 and at March 31, 2021	0	0
Common Stock, $0.01 par value per share, 135,000,000 shares authorized, 55,614,974 shares issued and 42,511,136 shares outstanding at July 4, 2021; 55,552,810 shares issued and 42,753,020 shares outstanding at March 31, 2021	556	555
Additional paid-in capital	553,627	554,168
Treasury stock at cost, 13,103,838 shares held as of July 4, 2021 and 12,799,790 shares held as of March 31, 2021	(594,823)	(563,481)
Retained earnings	1,706,072	1,669,751
Contra equity - indemnification receivable	(5,355)	(5,355)
Accumulated other comprehensive loss	(96,474)	(115,883)
Total EnerSys stockholders’ equity	1,563,603	1,539,755
Nonredeemable noncontrolling interests	3,823	3,821
Total equity	1,567,426	1,543,576
Total liabilities and equity	$ 3,472,445	$ 3,462,797

Consolidated Condensed Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jul. 04, 2021	Mar. 31, 2021
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 12,607	$ 12,992
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares, issued (in shares)	0	0
Preferred stock, shares, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	135,000,000	135,000,000
Common stock, shares, issued (in shares)	55,614,974	55,552,810
Common stock, shares, outstanding (in shares)	42,511,136	42,753,020
Treasury stock, shares	13,103,838	12,799,790

Consolidated Condensed Statements of Income - USD ($) $ in Thousands	3 Months Ended
	Jul. 04, 2021	Jul. 05, 2020
Income Statement [Abstract]
Net sales	$ 814,893	$ 704,924
Cost of goods sold	621,674	529,947
Gross profit	193,219	174,977
Operating expenses	124,487	120,370
Restructuring and other exit charges	7,832	1,387
Operating earnings	60,900	53,220
Interest expense	9,107	10,165
Other (income) expense, net	(496)	1,462
Earnings before income taxes	52,289	41,593
Income tax expense	8,360	6,410
Net earnings attributable to EnerSys stockholders	$ 43,929	$ 35,183
Net earnings per common share attributable to EnerSys stockholders:
Basic earnings per common share attributable to EnerSys stockholders (in dollars per share)	$ 1.03	$ 0.83
Diluted earnings per common share attributable to EnerSys stockholders (in dollars per share)	1.01	0.82
Dividends per common share (in dollars per share)	$ 0.175	$ 0.175
Weighted average shares of common stock outstanding:
Basic weighted-average number of common shares outstanding (in shares)	42,700,329	42,385,888
Diluted weighted-average number of common shares outstanding (in shares)	43,537,344	42,932,054

Consolidated Condensed Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Jul. 04, 2021	Jul. 05, 2020
Statement of Comprehensive Income [Abstract]
Net earnings	$ 43,929	$ 35,183
Other comprehensive income:
Net unrealized gain on derivative instruments, net of tax	3,897	2,343
Pension funded status adjustment, net of tax	240	291
Foreign currency translation adjustment	15,321	28,147
Total other comprehensive income, net of tax	19,458	30,781
Total comprehensive income	63,387	65,964
Comprehensive income attributable to noncontrolling interests	49	8
Comprehensive income attributable to EnerSys stockholders	$ 63,338	$ 65,956

Consolidated Condensed Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Jul. 04, 2021	Jul. 05, 2020
Cash flows from operating activities
Net earnings	$ 43,929	$ 35,183
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	24,433	23,657
Write-off of assets relating to exit activities	2,141	471
Derivatives not designated in hedging relationships:
Net losses (gains)	6	(262)
Cash (settlements) proceeds	(14)	467
Provision for doubtful accounts	1,039	96
Deferred income taxes	145	(54)
Non-cash interest expense	518	518
Stock-based compensation	3,659	5,053
Gain on disposal of property, plant, and equipment	4	73
Changes in assets and liabilities:
Accounts receivable	24,834	92,752
Inventories	(46,307)	14,852
Prepaid and other current assets	(15,595)	2,672
Other assets	344	718
Accounts payable	(36,746)	(40,609)
Accrued expenses	(50,314)	(18,571)
Other liabilities	(219)	(452)
Net cash (used in) provided by operating activities	(48,143)	116,564
Cash flows from investing activities
Capital expenditures	(16,435)	(26,330)
Proceeds from disposal of facility	3,268	0
Proceeds from disposal of property, plant, and equipment	49	50
Net cash used in investing activities	(13,118)	(26,280)
Cash flows from financing activities
Net borrowings (repayments) on short-term debt	5,512	(987)
Proceeds from 2017 Revolver borrowings	65,700	35,000
Repayments of 2017 Revolver borrowings	(5,700)	(55,000)
Repayments of 2017 Term Loan	(11,447)	(8,402)
Option proceeds, net	386	479
Payment of taxes related to net share settlement of equity awards	(4,803)	(3,135)
Purchase of treasury stock	(31,512)	0
Dividends paid to stockholders	(7,435)	(7,428)
Other	214	11
Net cash provided by (used in) financing activities	10,915	(39,462)
Effect of exchange rate changes on cash and cash equivalents	4,771	6,578
Net (decrease) increase in cash and cash equivalents	(45,575)	57,400
Cash and cash equivalents at beginning of period	451,808	326,979
Cash and cash equivalents at end of period	$ 406,233	$ 384,379

Basis of Presentation	3 Months Ended
Basis of Presentation	Jul. 04, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated condensed financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments except those otherwise described herein) considered necessary for a fair presentation have been included, unless otherwise disclosed. Operating results for the three months ended July 4, 2021 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2022. The Consolidated Condensed Balance Sheet at March 31, 2021 has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. The financial statements should be read in conjunction with the Consolidated Financial Statements and Notes thereto included in the Company’s 2021 Annual Report on Form 10-K (SEC File No. 001-32253), which was filed on May 26, 2021 (the “2021 Annual Report”). EnerSys (the “Company,”) reports interim financial information for 13-week periods, except for the first quarter, which always begins on April 1, and the fourth quarter, which always ends on March 31. The four quarters in fiscal 2022 end on July 4, 2021, October 3, 2021, January 2, 2022, and March 31, 2022, respectively. The four quarters in fiscal 2021 ended on July 5, 2020, October 4, 2020, January 3, 2021, and March 31, 2021, respectively. The consolidated condensed financial statements include the accounts of the Company and its wholly-owned subsidiaries and any partially owned subsidiaries that the Company has the ability to control. All intercompany transactions and balances have been eliminated in consolidation. Recently Adopted Accounting Pronouncements In December 2019, the FASB issued ASU No. 2019-12, “Income Taxes (Topic 740)”: Simplifying the Accounting for Income Taxes, which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. The guidance is effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The Company adopted the standard in the first quarter of fiscal 2022 and the adoption did not have a material impact on the Company's consolidated financial statements. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. These estimates and assumptions take into account historical and forward looking factors that the Company believes are reasonable, including, but not limited to, the potential impacts arising from the coronavirus pandemic of 2019 (“COVID-19”) and public and private sector policies and initiatives aimed at reducing its transmission. As the extent and duration of the impacts of COVID-19 remain unclear, the Company’s estimates and assumptions may evolve as conditions change. Actual results could differ significantly from those estimates. Examples of significant estimates include the allowance for credit losses, the recoverability of property, plant and equipment, the incremental borrowing rate for lease liabilities, the recoverability of intangible assets and other long-lived assets, fair value measurements, including those related to financial instruments, goodwill and intangible assets, valuation allowances on tax assets, pension and postretirement benefit obligations, contingencies and the identification and valuation of assets acquired and liabilities assumed in connection with business combinations.

Revenue Recognition	3 Months Ended
Revenue Recognition	Jul. 04, 2021
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition The Company's revenues by reportable segments are presented in Note 17. Service revenues related to the work performed for the Company’s customers by its maintenance technicians generally represent a separate and distinct performance obligation. Control for these services passes to the customer as the services are performed. Service revenues for the first quarter of fiscal 2022 and 2021 amounted to $82,518 and $68,758, respectively. A small portion of the Company's customer arrangements oblige the Company to create customized products for its customers that require the bundling of both products and services into a single performance obligation because the individual products and services that are required to fulfill the customer requirements do not meet the definition for a distinct performance obligation. These customized products generally have no alternative use to the Company and the terms and conditions of these arrangements give the Company the enforceable right to payment for performance completed to date, including a reasonable profit margin. For these arrangements, control transfers over time and the Company measures progress towards completion by selecting the input or output method that best depicts the transfer of control of the underlying goods and services to the customer for each respective arrangement. Methods used by the Company to measure progress toward completion include labor hours, costs incurred and units of production. Revenues recognized over time for the first quarter of fiscal 2022 and 2021 amounted to $40,904 and $36,102, respectively. On July 4, 2021, the aggregate transaction price allocated to unsatisfied (or partially unsatisfied) performance obligations was approximately $114,863, of which, the Company estimates that approximately $88,019 will be recognized as revenue in fiscal 2022, $26,033 in fiscal 2023, $774 in fiscal 2024, $37 in fiscal 2025 and $0 in fiscal 2026 . Any payments that are received from a customer in advance, prior to the satisfaction of a related performance obligation and billings in excess of revenue recognized, are deferred and treated as a contract liability. Advance payments and billings in excess of revenue recognized are classified as current or non-current based on the timing of when recognition of revenue is expected. As of July 4, 2021, the current and non-current portion of contract liabilities were $18,150 and $1,686, respectively. As of March 31, 2021, the current and non-current portion of contract liabilities were $15,992 and $2,072, respectively. Revenues recognized during the first quarter of fiscal 2022 and 2021 that were included in the contract liability at the beginning of the quarter, amounted to $3,596 and $3,466, respectively. Amounts representing work completed and not billed to customers represent contract assets and were $50,290 and $46,451 as of July 4, 2021 and March 31, 2021, respectively. The Company uses historic customer product return data as a basis of estimation for customer returns and records the reduction of sales at the time revenue is recognized. At July 4, 2021, the right of return asset related to the value of inventory anticipated to be returned from customers was $4,274 and refund liability representing amounts estimated to be refunded to customers was $7,590.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

+ Details

Leases

3 Months Ended

Jul. 04, 2021

Leases [Abstract]

Leases

The Company leases manufacturing facilities, distribution centers, office space, vehicles and other equipment under non-cancellable leases with initial terms typically ranging from 1 to 17 years.

Short term leases with an initial term of 12 months or less are not presented on the balance sheet and expense is recognized on a straight-line basis over the lease term.

The following table presents lease assets and liabilities and their balance sheet classification:


	Classification	As of July 4, 2021		As of March 31, 2021
Operating Leases:
Right-of-use assets	Other assets	$	60,480	$	62,159
Operating lease current liabilities	Accrued expenses	21,057		21,774
Operating lease non-current liabilities	Other liabilities	41,825		42,528
Finance Leases:
Right-of-use assets	Property, plant, and equipment, net	$	524	$	573
Finance lease current liabilities	Accrued expenses	235		236
Finance lease non-current liabilities	Other liabilities	382		435

The components of lease expense for the first quarter ended July 4, 2021 and July 5, 2020 were as follows:


		Quarter ended
	Classification	July 4, 2021		July 5, 2020
Operating Leases:
Operating lease cost	Operating expenses	$	6,716	$	6,936
Variable lease cost	Operating expenses	2,573		2,119
Short term lease cost	Operating expenses	1,817		1,829
Finance Leases:
Depreciation	Operating expenses	$	60	$	42
Interest expense	Interest expense	8		7
Total		$	11,174	$	10,933

The following table presents the weighted average lease term and discount rates for leases as of July 4, 2021 and March 31, 2021:

July 4, 2021

March 31, 2021

Operating Leases:

Weighted average remaining lease term (years)

5.6 years

5.5 years

Weighted average discount rate

5.15%

5.16%

Finance Leases:

Weighted average remaining lease term (years)

2.9 years

3.1 years

Weighted average discount rate

4.81%

The following table presents future payments due under leases reconciled to lease liabilities as of July 4, 2021:


	Finance Leases		Operating Leases
Nine months ended March 31, 2022	$	200	$	18,344
Year ended March 31,
2023	220		17,097
2024	160		11,142
2025	47		7,341
2026	26		5,428
Thereafter	—		13,396
Total undiscounted lease payments	653		72,748
Present value discount	36		9,866
Lease liability	$	617	$	62,882

The following table presents supplemental disclosures of cash flow information related to leases for the first quarter ended July 4, 2021 and July 5, 2020:


	Quarter ended
	July 4, 2021		July 5, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$	8	$	7
Operating cash flows from operating leases	6,765		6,921
Financing cash flows from finance leases	60		41
Supplemental non-cash information on lease liabilities arising from right-of-use assets:
Right-of-use assets obtained in exchange for new finance lease liabilities	$	—	$	—
Right-of-use assets obtained in exchange for new operating lease liabilities	3,681		6,177

Leases

The Company leases manufacturing facilities, distribution centers, office space, vehicles and other equipment under non-cancellable leases with initial terms typically ranging from 1 to 17 years.

Short term leases with an initial term of 12 months or less are not presented on the balance sheet and expense is recognized on a straight-line basis over the lease term.

The following table presents lease assets and liabilities and their balance sheet classification:


	Classification	As of July 4, 2021		As of March 31, 2021
Operating Leases:
Right-of-use assets	Other assets	$	60,480	$	62,159
Operating lease current liabilities	Accrued expenses	21,057		21,774
Operating lease non-current liabilities	Other liabilities	41,825		42,528
Finance Leases:
Right-of-use assets	Property, plant, and equipment, net	$	524	$	573
Finance lease current liabilities	Accrued expenses	235		236
Finance lease non-current liabilities	Other liabilities	382		435

The components of lease expense for the first quarter ended July 4, 2021 and July 5, 2020 were as follows:


		Quarter ended
	Classification	July 4, 2021		July 5, 2020
Operating Leases:
Operating lease cost	Operating expenses	$	6,716	$	6,936
Variable lease cost	Operating expenses	2,573		2,119
Short term lease cost	Operating expenses	1,817		1,829
Finance Leases:
Depreciation	Operating expenses	$	60	$	42
Interest expense	Interest expense	8		7
Total		$	11,174	$	10,933

The following table presents the weighted average lease term and discount rates for leases as of July 4, 2021 and March 31, 2021:

July 4, 2021

March 31, 2021

Operating Leases:

Weighted average remaining lease term (years)

5.6 years

5.5 years

Weighted average discount rate

5.15%

5.16%

Finance Leases:

Weighted average remaining lease term (years)

2.9 years

3.1 years

Weighted average discount rate

4.81%

The following table presents future payments due under leases reconciled to lease liabilities as of July 4, 2021:


	Finance Leases		Operating Leases
Nine months ended March 31, 2022	$	200	$	18,344
Year ended March 31,
2023	220		17,097
2024	160		11,142
2025	47		7,341
2026	26		5,428
Thereafter	—		13,396
Total undiscounted lease payments	653		72,748
Present value discount	36		9,866
Lease liability	$	617	$	62,882

The following table presents supplemental disclosures of cash flow information related to leases for the first quarter ended July 4, 2021 and July 5, 2020:


	Quarter ended
	July 4, 2021		July 5, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$	8	$	7
Operating cash flows from operating leases	6,765		6,921
Financing cash flows from finance leases	60		41
Supplemental non-cash information on lease liabilities arising from right-of-use assets:
Right-of-use assets obtained in exchange for new finance lease liabilities	$	—	$	—
Right-of-use assets obtained in exchange for new operating lease liabilities	3,681		6,177

Goodwill and Other Intangible Assets

3 Months Ended

Jul. 04, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Other Intangible Assets

Information regarding the Company’s other intangible assets are as follows:


	Balance as of
	July 4, 2021						March 31, 2021
	Gross Amount		Accumulated Amortization		Net Amount		Gross Amount		Accumulated Amortization		Net Amount
Indefinite-lived intangible assets:
Trademarks	$	148,296	$	(953)	$	147,343	$	148,164	$	(953)	$	147,211
Finite-lived intangible assets:
Customer relationships	299,366		(92,993)		206,373		298,576		(87,308)		211,268
Non-compete	2,825		(2,825)		—		2,825		(2,825)		—
Technology	97,542		(31,887)		65,655		97,349		(29,561)		67,788
Trademarks	8,012		(3,789)		4,223		8,012		(3,381)		4,631
Licenses	1,196		(1,196)		—		1,196		(1,196)		—
Total	$	557,237	$	(133,643)	$	423,594	$	556,122	$	(125,224)	$	430,898

The Company’s amortization expense related to finite-lived intangible assets was $8,419 for the first quarter of fiscal 2022, compared to $8,555 for the first quarter of fiscal 2021. The expected amortization expense based on the finite-lived intangible assets as of July 4, 2021, is $24,205 for the remainder of fiscal 2022, $30,399 in fiscal 2023, $27,544 in fiscal 2024, $26,552 in fiscal 2025 and $25,618 in fiscal 2026.

Goodwill

The following table presents the amount of goodwill, as well as any changes in the carrying amount of goodwill by segment during the first quarter of fiscal 2022:


	Energy Systems		Motive Power		Specialty		Total
Balance at March 31, 2021	$	279,676	$	327,055	$	98,862	$	705,593

Foreign currency translation adjustment	5,788		1,300		196		7,284
Balance as of July 4, 2021	$	285,464	$	328,355	$	99,058	$	712,877

Inventories

3 Months Ended

Jul. 04, 2021

Inventory Disclosure [Abstract]

Inventories


	July 4, 2021		March 31, 2021
Raw materials	$	164,688	$	147,040
Work-in-process	103,855		97,715
Finished goods	295,371		273,492
Total	$	563,914	$	518,247

Fair Value of Financial Instruments

3 Months Ended

Jul. 04, 2021

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

Recurring Fair Value Measurements

The following tables represent the financial assets and (liabilities) measured at fair value on a recurring basis as of July 4, 2021 and March 31, 2021, and the basis for that measurement:


	Total Fair Value Measurement July 4, 2021		Quoted Price in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Lead forward contracts	$	3,781	$	—	$	3,781	$	—
Foreign currency forward contracts	180		—		180		—
Total derivatives	$	3,961	$	—	$	3,961	$	—


	Total Fair Value Measurement March 31, 2021		Quoted Price in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Lead forward contracts	$	(1,980)	$	—	$	(1,980)	$	—
Foreign currency forward contracts	424		—		424		—
Total derivatives	$	(1,556)	$	—	$	(1,556)	$	—

The fair values of lead forward contracts are calculated using observable prices for lead as quoted on the London Metal Exchange (“LME”) and, therefore, were classified as Level 2 within the fair value hierarchy, as described in Note 1. Summary of Significant Accounting Policies to the Company's consolidated financial statements included in the 2021 Annual Report.

The fair values for foreign currency forward contracts are based upon current quoted market prices and are classified as Level 2 based on the nature of the underlying market in which these derivatives are traded.

Financial Instruments

The fair values of the Company’s cash and cash equivalents approximate carrying value due to their short maturities.

The fair value of the Company’s short-term debt and borrowings under the Amended Credit Facility (as defined in Note 12), approximate their respective carrying value, as they are variable rate debt and the terms are comparable to market terms as of the balance sheet dates and are classified as Level 2.

In fiscal 2020, the Company issued its 4.375% Senior Notes due 2027 (the “2027 Notes”), with an original face value of $300,000. The Company's 5.00% Senior Notes due 2023 (the “2023 Notes”), with an original face value of $300,000, were issued in April 2015. The fair value of the Company's 2027 Notes and 2023 Notes, (collectively, the “Senior Notes”) represent the trading values based upon quoted market prices and are classified as Level 2. The 2027 Notes were trading at approximately 104% and 102% of face value on July 4, 2021 and March 31, 2021, respectively. The 2023 Notes were trading at approximately 104% and 105% of face value on July 4, 2021 and March 31, 2021, respectively.

The carrying amounts and estimated fair values of the Company’s derivatives and Senior Notes at July 4, 2021 and March 31, 2021 were as follows:


	July 4, 2021				March 31, 2021
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Financial assets:
Derivatives (1)	$	3,961	$	3,961	$	—	$	—
Financial liabilities:
Senior Notes (2)	$	600,000	$	625,500	$	600,000	$	621,000
Derivatives (1)	—		—		1,556		1,556

(1)Represents lead and foreign currency forward contracts (see Note 7 for asset and liability positions of the lead and foreign currency forward contracts at July 4, 2021 and March 31, 2021).

(2)The fair value amount of the Senior Notes at July 4, 2021 and March 31, 2021 represent the trading value of the instruments.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Derivative Financial Instruments

3 Months Ended

Jul. 04, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

The Company utilizes derivative instruments to reduce its exposure to fluctuations in commodity prices and foreign exchange rates under established procedures and controls. The Company does not enter into derivative contracts for speculative purposes. The Company’s agreements are with creditworthy financial institutions and the Company anticipates performance by counterparties to these contracts and therefore no material loss is expected.

Derivatives in Cash Flow Hedging Relationships

Lead Forward Contracts

The Company enters into lead forward contracts to fix the price for a portion of its lead purchases. Management considers the lead forward contracts to be effective against changes in the cash flows of the underlying lead purchases. The vast majority of such contracts are for a period not extending beyond one year. At July 4, 2021 and March 31, 2021, the Company has hedged the price to purchase approximately 50.0 million pounds and 54.5 million pounds of lead, respectively, for a total purchase price of $48,705 and $50,567, respectively.

Foreign Currency Forward Contracts

The Company uses foreign currency forward contracts and options to hedge a portion of the Company’s foreign currency exposures for lead, as well as other foreign currency exposures so that gains and losses on these contracts offset changes in the underlying foreign currency denominated exposures. The vast majority of such contracts are for a period not extending beyond one year. As of July 4, 2021 and March 31, 2021, the Company had entered into a total of $26,495 and $26,033, respectively, of such contracts.

In the coming twelve months, the Company anticipates that $5,685 of pretax gain relating to lead and foreign currency forward contracts will be reclassified from AOCI (“Accumulated Other Comprehensive Income”) as part of cost of goods sold. This amount represents the current net unrealized impact of hedging lead and foreign exchange rates, which will change as market rates change in the future, and will ultimately be realized in the Consolidated Condensed Statements of Income as an offset to the corresponding actual changes in lead costs to be realized in connection with the variable lead cost and foreign exchange rates being hedged.

Derivatives not Designated in Hedging Relationships

Foreign Currency Forward Contracts

The Company also enters into foreign currency forward contracts to economically hedge foreign currency fluctuations on intercompany loans and foreign currency denominated receivables and payables. These are not designated as hedging instruments and changes in fair value of these instruments are recorded directly in the Consolidated Condensed Statements of Income. As of July 4, 2021 and March 31, 2021, the notional amount of these contracts was $29,262 and $28,995, respectively.

Presented below in tabular form is information on the location and amounts of derivative fair values in the Consolidated Condensed Balance Sheets and derivative gains and losses in the Consolidated Condensed Statements of Income:

Fair Value of Derivative Instruments

July 4, 2021 and March 31, 2021


	Derivatives and Hedging Activities Designated as Cash Flow Hedges				Derivatives and Hedging Activities Not Designated as Hedging Instruments
	July 4, 2021		March 31, 2021		July 4, 2021		March 31, 2021
Prepaid and other current assets:
Lead forward contracts	$	3,781	$	—	$	—	$	—
Foreign currency forward contracts	271		524		—		—
Total assets	$	4,052	$	524	$	—	$	—
Accrued expenses:
Lead forward contracts	$	—	$	1,980	$	—	$	—
Foreign currency forward contracts	—		—		91		100
Total liabilities	$	—	$	1,980	$	91	$	100

The Effect of Derivative Instruments on the Consolidated Condensed Statements of Income

For the quarter ended July 4, 2021


Derivatives Designated as Cash Flow Hedges	Pretax Gain (Loss) Recognized in AOCI on Derivative (Effective Portion)		Location of Gain (Loss) Reclassified from AOCI into Income (Effective Portion)	Pretax Gain (Loss) Reclassified from AOCI into Income (Effective Portion)
Lead forward contracts	$	7,572	Cost of goods sold	$	2,459
Foreign currency forward contracts	(189)		Cost of goods sold	(160)
Total	$	7,383		$	2,299


Derivatives Not Designated as Hedging Instruments	Location of Gain (Loss) Recognized in Income on Derivatives	Pretax Gain (Loss)
Foreign currency forward contracts	Other (income) expense, net	$	(6)
Total		$	(6)

The Effect of Derivative Instruments on the Consolidated Condensed Statements of Income

For the quarter ended July 5, 2020


Derivatives Designated as Cash Flow Hedges	Pretax Gain (Loss) Recognized in AOCI on Derivative (Effective Portion)		Location of Gain (Loss) Reclassified from AOCI into Income (Effective Portion)	Pretax Gain (Loss) Reclassified from AOCI into Income (Effective Portion)
Lead forward contracts	$	(1,274)	Cost of goods sold	$	(3,799)
Foreign currency forward contracts	261		Cost of goods sold	(283)
Total	$	(1,013)		$	(4,082)


Derivatives Not Designated as Hedging Instruments	Location of Gain (Loss) Recognized in Income on Derivatives	Pretax Gain (Loss)
Foreign currency forward contracts	Other (income) expense, net	$	262
Total		$	262

Income Taxes	3 Months Ended
Income Taxes	Jul. 04, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s income tax provision consists of federal, state and foreign income taxes. The tax provision for the first quarter of fiscal 2022 and 2021 was based on the estimated effective tax rates applicable for the full years ending March 31, 2022 and March 31, 2021, respectively, after giving effect to items specifically related to the interim periods. The Company’s effective income tax rate with respect to any period may be volatile based on the mix of income in the tax jurisdictions in which the Company operates, change in tax laws and the amount of the Company's consolidated earnings before taxes. On May 19, 2019, a public referendum held in Switzerland approved the Federal Act on Tax Reform and AHV (Old-Age and Survivors Insurance) Financing (TRAF) as adopted by the Swiss Federal Parliament on September 28, 2018. The Swiss tax reform measures were effective January 1, 2020. The Company recorded an income tax benefit of $1,883 during the first quarter of fiscal 2021. The consolidated effective income tax rates for the first quarter of fiscal 2022 and 2021 were 16.0% and 15.4%, respectively. The rate increase in the first quarter of fiscal 2022 compared to the prior year quarter is primarily due to the Swiss tax reform, partially offset by Hagen, Germany exit charges and changes in the mix of earnings among tax jurisdictions. Foreign income as a percentage of worldwide income is estimated to be 72% for fiscal 2022 compared to 67% for fiscal 2021. The foreign effective tax rate for both the first quarter of fiscal 2022 and 2021 was 9%. Income from the Company's Swiss subsidiary comprised a substantial portion of the Company's overall foreign mix of income for both fiscal 2022 and fiscal 2021 and is taxed at an effective income tax rate of approximately 8% and 6%, respectively.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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+ Details

Warranty

3 Months Ended

Jul. 04, 2021

Product Warranties Disclosures [Abstract]

Warranty

The Company provides for estimated product warranty expenses when products are sold, with related liabilities included within accrued expenses and other liabilities. As warranty estimates are forecasts that are based on the best available information, primarily historical claims experience, costs of claims may ultimately differ from amounts provided. An analysis of changes in the liability for product warranties is as follows:


	Quarter ended
	July 4, 2021		July 5, 2020
Balance at beginning of period	$	58,962	$	63,525
Current period provisions	5,330		6,974
Costs incurred	(5,252)		(11,310)

Foreign currency translation adjustment	127		582
Balance at end of period	$	59,167	$	59,771

Commitments, Contingencies and Litigation	3 Months Ended
Commitments, Contingencies and Litigation	Jul. 04, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments, Contingencies and Litigation	Commitments, Contingencies and Litigation Litigation and Other Legal Matters In the ordinary course of business, the Company and its subsidiaries are routinely defendants in or parties to pending and threatened legal actions and proceedings, including actions brought on behalf of various classes of claimants. These actions and proceedings are generally based on alleged violations of environmental, anticompetition, employment, contract and other laws. In some of these actions and proceedings, claims for substantial monetary damages are asserted against the Company and its subsidiaries. In the ordinary course of business, the Company and its subsidiaries are also subject to regulatory and governmental examinations, information gathering requests, inquiries, investigations, and threatened legal actions and proceedings. In connection with formal and informal inquiries by federal, state, local and foreign agencies, the Company and its subsidiaries receive numerous requests, subpoenas and orders for documents, testimony and information in connection with various aspects of their activities. European Competition Investigations Certain of the Company’s European subsidiaries had received subpoenas and requests for documents and, in some cases, interviews from, and have had on-site inspections conducted by, the competition authorities of Belgium, Germany and the Netherlands relating to conduct and anticompetitive practices of certain industrial battery participants. For additional information regarding these matters, see Note 19 - Commitments, Contingencies and Litigation to the consolidated financial statements contained in the 2021 Annual Report. As of July 4, 2021 and March 31, 2021, the Company did not have a reserve balance related to these matters. The precise scope, timing and time period at issue, as well as the final outcome of the investigations or customer claims, remain uncertain. Accordingly, the Company’s estimate may change from time to time, and actual losses could vary. Environmental Issues As a result of its operations, the Company is subject to various federal, state, and local, as well as international environmental laws and regulations and is exposed to the costs and risks of registering, handling, processing, storing, transporting, and disposing of hazardous substances, especially lead and acid. The Company’s operations are also subject to federal, state, local and international occupational safety and health regulations, including laws and regulations relating to exposure to lead in the workplace. The Company believes that it has adequate reserves to satisfy its environmental liabilities. Lead and Foreign Currency Forward Contracts To stabilize its lead costs and reduce volatility from currency movements, the Company enters into contracts with financial institutions. The vast majority of such contracts are for a period not extending beyond one year. Please refer to Note 7 - Derivative Financial Instruments for more details.

Restructuring Plans

3 Months Ended

Jul. 04, 2021

Restructuring and Related Activities [Abstract]

Restructuring Plans

Restructuring and other Exit Charges

Restructuring Programs

As disclosed in the 2021 Annual Report, the Company committed to restructuring plans aimed at improving operational efficiencies across its lines of business. A substantial portion of these plans are complete with an estimated $4,666 remaining to be incurred by the end of fiscal 2022, mainly related to plans started in fiscal 2021 and 2022. Restructuring and exit charges for the first quarter of fiscal 2022 by reportable segments are as follows:


	Quarter ended July 4, 2021
	Energy Systems		Motive Power		Specialty		Total
Restructuring charges	$	858	$	432	$	36	$	1,326
Exit charges	(370)		8,101		(1,225)		6,506
Restructuring and other exit charges	$	488	$	8,533	$	(1,189)	$	7,832

A roll-forward of the restructuring reserve, excluding exit charges, is as follows:


Balance as of March 31, 2021	$	2,595
Accrued	1,326
Costs incurred	(2,142)
Foreign currency impact	65
Balance as of July 4, 2021	$	1,844

Exit Charges

Fiscal 2021 Programs

Hagen, Germany

In fiscal 2021, the EnerSys’ Board of Directors approved a plan to substantially close its facility in Hagen, Germany, which produces flooded motive power batteries for forklifts. Management determined that future demand for the motive power batteries produced at this facility was not sufficient, given the conversion from flooded to maintenance free batteries by customers, the existing number of competitors in the market, as well as the near term decline in demand and increased

uncertainty from the pandemic. The Company plans to retain the facility with limited sales, service and administrative functions along with related personnel for the foreseeable future.

The Company currently estimates that the total charges for these actions will amount to approximately $60,000, the majority of which are expected to be recorded by the end of calendar 2021. Cash charges for employee severance related payments, cleanup related to the facility, contractual releases and legal expenses are estimated to be $40,000 and non-cash charges from inventory and equipment write-offs are estimated to be $20,000. These actions resulted in the reduction of approximately 200 employees.

During fiscal 2021, the Company recorded cash charges relating to severance of $23,331 and non-cash charges of $7,946 primarily relating to fixed asset write-offs.

During the first quarter of fiscal 2022, the Company recorded charges, primarily relating to severance of $8,471.

Targovishte, Bulgaria

During fiscal 2019, the Company committed to a plan to close its facility in Targovishte, Bulgaria, which produced diesel-electric submarine batteries. Management determined that the future demand for batteries of diesel-electric submarines was not sufficient given the number of competitors in the market. Of the estimated total charges of $26,000 for this plan, the Company had recorded charges amounting to $20,242 in fiscal 2019, relating to severance and inventory and fixed asset write-offs and an additional $5,123 relating to cash and non-cash charges during fiscal 2020. During fiscal 2021, in keeping with its strategy of

exiting the manufacture of batteries for diesel-electric submarines, the Company completed further actions which resulted in

$220 relating to cash and non-cash charges. During the current quarter of fiscal 2022, the Company sold this facility for $1,489. A net gain of $1,225 was recorded as a credit to exit charges in the Consolidated Condensed Statement of Income.

Zamudio, Spain

During the first quarter of fiscal 2022, the Company closed a minor assembling plant in Zamudio, Spain and sold the same for $1,779. A net gain of $740 was recorded as a credit to exit charges in the Consolidated Condensed Statement of Income.

Richmond, Kentucky Plant Fire

During fiscal 2021, the Company settled its claims with its insurance carrier relating to the fire that broke out in the battery formation area of the Company's Richmond, Kentucky motive power production facility in fiscal 2020.

During the first quarter of fiscal 2021, the Company recorded a charge of $9,274 as receivable for cleanup and received $10,000 from the insurance carrier. In addition to the property damage claim, the Company also received $3,700 in business interruption claims and was credited to cost of goods sold.

Debt

3 Months Ended

Jul. 04, 2021

Debt Disclosure [Abstract]

Debt

The following summarizes the Company’s long-term debt as of July 4, 2021 and March 31, 2021:


	July 4, 2021				March 31, 2021
	Principal		Unamortized Issuance Costs		Principal		Unamortized Issuance Costs
Senior Notes	$	600,000	$	4,806	$	600,000	$	5,106
Amended Credit Facility, due 2022	426,319		1,097		376,039		1,315

	$	1,026,319	$	5,903	$	976,039	$	6,421
Less: Unamortized issuance costs	5,903				6,421
Long-term debt, net of unamortized issuance costs	$	1,020,416			$	969,618

The Company's Senior Notes comprise the following:

4.375% Senior Notes due 2027

On December 11, 2019, the Company issued $300,000 in aggregate principal amount of its 4.375% Senior Notes due December 15, 2027 (the “2027 Notes”). Proceeds from this offering, net of debt issuance costs were $296,250 and were utilized to pay down the Amended 2017 Revolver (defined below). The 2027 Notes bear interest at a rate of 4.375% per annum accruing from December 11, 2019. Interest is payable semiannually in arrears on June 15 and December 15 of each year, commencing on June 15, 2020. The 2027 Notes mature on December 15, 2027, unless earlier redeemed or repurchased in full and are unsecured and

unsubordinated obligations of the Company. They are fully and unconditionally guaranteed, jointly and severally, by certain of its subsidiaries that are guarantors under the Amended Credit Facility. These guarantees are unsecured and unsubordinated obligations of such guarantors.

The Company may redeem, prior to September 15, 2027, all or a portion of the 2027 Notes at a price equal to 100% of the principal amount of the 2027 Notes to be redeemed, plus accrued and unpaid interest and a “make whole” premium to, but excluding, the redemption date. The Company may redeem, on or after September 15, 2027, all or a portion of the 2027 Notes at a price equal to 100% of the principal amount of the 2027 Notes, plus accrued and unpaid interest to, but excluding, the redemption date. If a change of control triggering event occurs, the Company will be required to offer to repurchase the 2027 Notes at a price in cash equal to 101% of the aggregate principal amount of the 2027 Notes, plus accrued and unpaid interest to, but excluding, the date of repurchase. The 2027 Notes rank pari passu with the 2023 Notes (defined below).

5.00% Senior Notes due 2023

The 5% Senior Notes due April 30, 2023 (the “2023 Notes”) bear interest at a rate of 5.00% per annum and have an original face value of $300,000. Interest is payable semiannually in arrears on April 30 and October 30 of each year and commenced on October 30, 2015. The 2023 Notes will mature on April 30, 2023, unless earlier redeemed or repurchased in full. The 2023 Notes are unsecured and unsubordinated obligations of the Company. The 2023 Notes are fully and unconditionally guaranteed, jointly and severally, by certain of its subsidiaries that are guarantors under the Amended Credit Facility. These guarantees are unsecured and unsubordinated obligations of such guarantors.

2017 Credit Facility and Subsequent Amendment

In fiscal 2018, the Company entered into a credit facility (the “2017 Credit Facility”). The 2017 Credit Facility scheduled to mature on September 30, 2022, initially comprised a $600,000 senior secured revolving credit facility (“2017 Revolver”) and a $150,000 senior secured term loan (“2017 Term Loan”). The Company utilized the borrowings from the 2017 Credit Facility to repay its pre-existing credit facility.

In fiscal 2019, the Company amended the 2017 Credit Facility (as amended, the “Amended Credit Facility”) to fund the Alpha acquisition. The Amended Credit Facility consists of $449,105 senior secured term loans (the “Amended 2017 Term Loan”), including a CAD 133,050 ($99,105) term loan and a $700,000 senior secured revolving credit facility (the “Amended 2017 Revolver”). The amendment resulted in an increase of the 2017 Term Loan and the 2017 Revolver by $299,105 and $100,000, respectively.

Subsequent to the amendment, the quarterly installments payable on the Amended 2017 Term Loan are $5,645 beginning December 31, 2018, $8,468 beginning December 31, 2019 and $11,290 beginning December 31, 2020 with a final payment of $320,000 on September 30, 2022. The Amended Credit Facility may be increased by an aggregate amount of $325,000 in revolving commitments and / or one or more new tranches of term loans, under certain conditions. Both the Amended 2017 Revolver and the Amended 2017 Term Loan bear interest, at the Company's option, at a rate per annum equal to either (i) the London Interbank Offered Rate (“LIBOR”) or Canadian Dollar Offered Rate (“CDOR”) plus (i) LIBOR plus between 1.25% and 2.00% (currently 1.25% and based on the Company's consolidated net leverage ratio) or (ii) the U.S. Dollar Base Rate (which equals, for any day a fluctuating rate per annum equal to the highest of (a) the Federal Funds Effective Rate plus 0.50%, (b) Bank of America “Prime Rate” and (c) the Eurocurrency Base Rate plus 1%; provided that, if the Base Rate shall be less than zero, such rate shall be deemed zero) (iii) the CDOR Base Rate equal to the higher of (a) Bank of America “Prime Rate” and (b) average 30-day CDOR rate plus 0.50%. Obligations under the Amended Credit Facility are secured by substantially all of the Company’s existing and future acquired assets, including substantially all of the capital stock of the Company’s United States subsidiaries that are guarantors under the Amended Credit Facility and up to 65% of the capital stock of certain of the Company’s foreign subsidiaries that are owned by the Company’s United States subsidiaries.

The Amended Credit Facility allows for up to two temporary increases in the maximum leverage ratio from 3.50x to 4.00x for a four quarter period following an acquisition larger than $250,000. Effective December 7, 2018 through December 28, 2019, the maximum leverage ratio was increased to 4.00x. On December 29, 2019, the maximum leverage ratio returned to 3.50x.

On July 15, 2021, the Company entered into an amendment to the Amended Credit Facility. See Note 18 for more details.

As of July 4, 2021, the Company had $60,000 outstanding under the Amended 2017 Revolver and $366,319 under the Amended 2017 Term Loan.

The current portion of the Amended 2017 Term Loan of $45,790 is classified as long-term debt as the Company expects to refinance the future quarterly payments with revolver borrowings under the Amended Credit Facility.

Short-Term Debt

As of July 4, 2021 and March 31, 2021, the Company had $40,260 and $34,153, respectively, of short-term borrowings. The weighted average interest rate on these borrowings was approximately 2% at both July 4, 2021 and at March 31, 2021.

Letters of Credit

As of July 4, 2021 and March 31, 2021, the Company had $2,959 of standby letters of credit.

Debt Issuance Costs

Amortization expense, relating to debt issuance costs, included in interest expense was $518 for both the quarters ended July 4, 2021 and July 5, 2020. Debt issuance costs, net of accumulated amortization, totaled $5,903 and $6,421, respectively, at July 4, 2021 and March 31, 2021.

Available Lines of Credit

As of July 4, 2021 and March 31, 2021, the Company had available and undrawn, under all its lines of credit, $745,809 and $697,875, respectively, including $107,934 and $122,303, respectively, of uncommitted lines of credit.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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+ Details

Retirement Plans

3 Months Ended

Jul. 04, 2021

Retirement Benefits [Abstract]

Retirement Plans

The following tables present the components of the Company’s net periodic benefit cost related to its defined benefit pension plans:


	United States Plans				International Plans
	Quarter ended				Quarter ended
	July 4, 2021		July 5, 2020		July 4, 2021		July 5, 2020
Service cost	$	—	$	—	$	299	$	235
Interest cost	130		132		366		327
Expected return on plan assets	(128)		(65)		(563)		(447)
Amortization and deferral	5		133		303		244

Net periodic benefit cost	$	7	$	200	$	405	$	359

- Definition

The entire disclosure for retirement benefits.

+ References

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-Name Accounting Standards Codification
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+ Details

Stock-Based Compensation	3 Months Ended
Stock-Based Compensation	Jul. 04, 2021
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation As of July 4, 2021, the Company maintains the 2017 Equity Incentive Plan as amended from time to time (“2017 EIP”). The 2017 EIP reserved 4,173,554 shares of common stock for the grant of various classes of nonqualified stock options, restricted stock units, market condition-based on total shareholder return (“TSR”) and performance condition-based share units (“PSU”) and other forms of equity-based compensation. The Company recognized stock-based compensation expense associated with its equity incentive plans of $3,659 for the first quarter of fiscal 2022 and $5,053 for the first quarter of fiscal 2021. The Company recognizes compensation expense using the straight-line method over the vesting period of the awards. During the first quarter of fiscal 2022, the Company granted to non-employee directors 1,053 restricted stock units, under the deferred compensation plan for non-employee directors. The awards vest immediately upon the date of grant and are settled in shares of common stock. Common stock activity during the first quarter of fiscal 2022 included the exercise of 19,652 stock options and the vesting of 65,213 restricted stock units and 45,216 TSRs. As of July 4, 2021, there were 776,144 non-qualified stock options, 811,983 restricted stock units including non-employee director restricted stock units, 80,893 TSRs and 98,528 PSUs outstanding.

Stockholders' Equity and Noncontrolling Interests

3 Months Ended

Jul. 04, 2021

Equity [Abstract]

Stockholders' Equity and Noncontrolling Interests

Stockholders’ Equity and Noncontrolling Interests

Common Stock

The following demonstrates the change in the number of shares of common stock outstanding during the first quarter ended July 4, 2021:


Shares outstanding as of March 31, 2021						42,753,020
Purchase of treasury stock						(329,008)

Shares issued under equity-based compensation plans, net of equity awards surrendered for option price and taxes						87,124
Shares outstanding as of July 4, 2021						42,511,136

Treasury Stock

During the first quarter ended July 4, 2021, the Company purchased 329,008 shares for $31,512 and did not purchase any shares during the first quarter ended July 5, 2020. At July 4, 2021 and March 31, 2021, the Company held 13,103,838 and 12,799,790 shares as treasury stock, respectively. During the first quarter ended July 4, 2021, the Company also issued 4,960 shares out of its treasury stock, valued at $62.55 per share, on a LIFO basis, to participants under the Company's Employee Stock Purchase Plan.

Accumulated Other Comprehensive Income (“AOCI ”)

The components of AOCI, net of tax, as of July 4, 2021 and March 31, 2021, are as follows:


	March 31, 2021		Before Reclassifications		Amounts Reclassified from AOCI		July 4, 2021
Pension funded status adjustment	$	(20,947)	$	—	$	240	$	(20,707)
Net unrealized gain (loss) on derivative instruments	360		5,657		(1,760)		4,257
Foreign currency translation adjustment	(95,296)		15,272		—		(80,024)
Accumulated other comprehensive (loss) income	$	(115,883)	$	20,929	$	(1,520)	$	(96,474)

The following table presents reclassifications from AOCI during the first quarter ended July 4, 2021:


Components of AOCI	Amounts Reclassified from AOCI		Location of (Gain) Loss Recognized on Income Statement
Derivatives in cash flow hedging relationships:
Net unrealized gain on derivative instruments	$	(2,299)	Cost of goods sold
Tax expense	539
Net unrealized gain on derivative instruments, net of tax	$	(1,760)

Defined benefit pension costs:
Prior service costs and deferrals	$	308	Net periodic benefit cost, included in other (income) expense, net - See Note 13
Tax benefit	(68)
Net periodic benefit cost, net of tax	$	240

The following table presents reclassifications from AOCI during the first quarter ended July 5, 2020:


Components of AOCI	Amounts Reclassified from AOCI		Location of (Gain) Loss Recognized on Income Statement
Derivatives in cash flow hedging relationships:
Net unrealized loss on derivative instruments	$	4,082	Cost of goods sold
Tax benefit	(966)
Net unrealized loss on derivative instruments, net of tax	$	3,116

Defined benefit pension costs:
Prior service costs and deferrals	$	377	Net periodic benefit cost, included in other (income) expense, net - See Note 13
Tax benefit	(86)
Net periodic benefit cost, net of tax	$	291

The following demonstrates the change in equity attributable to EnerSys stockholders and nonredeemable noncontrolling interests during the first quarter ended July 4, 2021:


(In Thousands, Except Per Share Data)	Preferred Stock		Common Stock		Additional Paid-in Capital		Treasury Stock		Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Contra-Equity		Total EnerSys Stockholders’ Equity		Non- redeemable Non- Controlling Interests		Total Equity
Balance at March 31, 2021	$	—	$	555	$	554,168	$	(563,481)	$	1,669,751	$	(115,883)	$	(5,355)	$	1,539,755	$	3,821	$	1,543,576
Stock-based compensation	—		—		3,659		—		—		—		—		3,659		—		3,659
Exercise of stock options	—		1		386		—		—		—		—		387		—		387
Shares issued under equity awards (taxes paid related to net share settlement of equity awards), net	—		—		(4,803)		—		—		—		—		(4,803)		—		(4,803)
Purchase of common stock	—		—		—		(31,512)		—		—		—		(31,512)		—		(31,512)
Other	—		—		44		170		—		—		—		214		—		214
Net earnings	—		—		—		—		43,929		—		—		43,929		—		43,929
Dividends ($0.175 per common share)	—		—		173		—		(7,608)		—		—		(7,435)		—		(7,435)
Dissolution of joint venture	—		—		—		—		—		—		—		—		(47)		(47)
Other comprehensive income:
Pension funded status adjustment (net of tax benefit of $68)	—		—		—		—		—		240		—		240		—		240
Net unrealized gain (loss) on derivative instruments (net of tax expense of $1,187)	—		—		—		—		—		3,897		—		3,897		—		3,897
Foreign currency translation adjustment	—		—		—		—		—		15,272		—		15,272		49		15,321
Balance at July 4, 2021	$	—	$	556	$	553,627	$	(594,823)	$	1,706,072	$	(96,474)	$	(5,355)	$	1,563,603	$	3,823	$	1,567,426

The following demonstrates the change in equity attributable to EnerSys stockholders and nonredeemable noncontrolling interests during the first quarter and current quarter ended July 5, 2020:


(In Thousands, Except Per Share Data)	Preferred Stock		Common Stock		Additional Paid-in Capital		Treasury Stock		Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Contra-Equity		Total EnerSys Stockholders’ Equity		Non- redeemable Non- Controlling Interests		Total Equity
Balance at March 31, 2020	$	—	$	551	$	529,100	$	(564,376)	$	1,556,980	$	(215,006)	$	(6,724)	$	1,300,525	$	3,537	$	1,304,062
Stock-based compensation	—		—		5,053		—		—		—		—		5,053		—		5,053
Exercise of stock options	—		2		479		—		—		—		—		481		—		481
Shares issued under equity awards (taxes paid related to net share settlement of equity awards), net	—		—		(3,135)		—		—		—		—		(3,135)		—		(3,135)

Other	—		—		(123)		299		—		—		—		176		—		176
Net earnings	—		—		—		—		35,183		—		—		35,183		—		35,183
Dividends ($0.175 per common share)	—		—		172		—		(7,600)		—		—		(7,428)		—		(7,428)
Other comprehensive income:
Pension funded status adjustment (net of tax benefit of $86)	—		—		—		—		—		291		—		291		—		291
Net unrealized gain (loss) on derivative instruments (net of tax expense of $726)	—		—		—		—		—		2,343		—		2,343		—		2,343
Foreign currency translation adjustment	—		—		—		—		—		28,139		—		28,139		8		28,147
Balance at July 5, 2020	$	—	$	553	$	531,546	$	(564,077)	$	1,584,563	$	(184,233)	$	(6,724)	$	1,361,628	$	3,545	$	1,365,173

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Earnings Per Share

3 Months Ended

Jul. 04, 2021

Earnings Per Share [Abstract]

Earnings Per Share

The following table sets forth the reconciliation from basic to diluted weighted-average number of common shares outstanding and the calculations of net earnings per common share attributable to EnerSys stockholders.


	Quarter ended
	July 4, 2021		July 5, 2020
Net earnings attributable to EnerSys stockholders	$	43,929	$	35,183
Weighted-average number of common shares outstanding:
Basic	42,700,329		42,385,888
Dilutive effect of:
Common shares from exercise and lapse of equity awards, net of shares assumed reacquired	837,015		546,166
Diluted weighted-average number of common shares outstanding	43,537,344		42,932,054
Basic earnings per common share attributable to EnerSys stockholders	$	1.03	$	0.83
Diluted earnings per common share attributable to EnerSys stockholders	$	1.01	$	0.82
Anti-dilutive equity awards not included in diluted weighted-average common shares	165,386		386,263

Business Segments

3 Months Ended

Jul. 04, 2021

Segment Reporting [Abstract]

Business Segments

Summarized financial information related to the Company's reportable segments for the first quarter ended July 4, 2021 and July 5, 2020, is shown below:


	Quarter ended
	July 4, 2021		July 5, 2020
Net sales by segment to unaffiliated customers (1)
Energy Systems	$	371,206	$	353,387
Motive Power	336,116		262,834
Specialty	107,571		88,703
Total net sales	$	814,893	$	704,924
Operating earnings by segment
Energy Systems	$	7,106	$	22,085
Motive Power	50,634		27,276
Specialty	10,992		5,246


Restructuring and other exit charges - Energy Systems	(488)		(512)
Restructuring and other exit charges - Motive Power	(8,533)		(762)
Restructuring and other exit charges - Specialty	1,189		(113)



Total operating earnings (2)	$	60,900	$	53,220

(1) Reportable segments do not record inter-segment revenues and accordingly there are none to report.

(2) The Company does not allocate interest expense or other (income) expense, net, to the reportable segments.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Subsequent Events	3 Months Ended
Subsequent Events	Jul. 04, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsOn July 15, 2021, the Company entered into a second amendment to its existing Amended Credit Facility (as defined in Note 12) that resulted in the extension of the maturity date for the Amended Credit Facility to September 30, 2026, resetting of the principal amortization with respect to the Amended 2017 Term Loan, refinancing the existing term loan, increasing the revolving line of credit limit, and certain other modifications to the existing credit agreement.On August 5, 2021, the Board of Directors approved a quarterly cash dividend of $0.175 per share of common stock to be paid on September 24, 2021, to stockholders of record as of September 10, 2021.

Basis of Presentation (Policies)	3 Months Ended
Basis of Presentation (Policies)	Jul. 04, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated condensed financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments except those otherwise described herein) considered necessary for a fair presentation have been included, unless otherwise disclosed. Operating results for the three months ended July 4, 2021 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2022. The Consolidated Condensed Balance Sheet at March 31, 2021 has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. The financial statements should be read in conjunction with the Consolidated Financial Statements and Notes thereto included in the Company’s 2021 Annual Report on Form 10-K (SEC File No. 001-32253), which was filed on May 26, 2021 (the “2021 Annual Report”). EnerSys (the “Company,”) reports interim financial information for 13-week periods, except for the first quarter, which always begins on April 1, and the fourth quarter, which always ends on March 31. The four quarters in fiscal 2022 end on July 4, 2021, October 3, 2021, January 2, 2022, and March 31, 2022, respectively. The four quarters in fiscal 2021 ended on July 5, 2020, October 4, 2020, January 3, 2021, and March 31, 2021, respectively. The consolidated condensed financial statements include the accounts of the Company and its wholly-owned subsidiaries and any partially owned subsidiaries that the Company has the ability to control. All intercompany transactions and balances have been eliminated in consolidation.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In December 2019, the FASB issued ASU No. 2019-12, “Income Taxes (Topic 740)”: Simplifying the Accounting for Income Taxes, which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. The guidance is effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The Company adopted the standard in the first quarter of fiscal 2022 and the adoption did not have a material impact on the Company's consolidated financial statements.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. These estimates and assumptions take into account historical and forward looking factors that the Company believes are reasonable, including, but not limited to, the potential impacts arising from the coronavirus pandemic of 2019 (“COVID-19”) and public and private sector policies and initiatives aimed at reducing its transmission. As the extent and duration of the impacts of COVID-19 remain unclear, the Company’s estimates and assumptions may evolve as conditions change. Actual results could differ significantly from those estimates. Examples of significant estimates include the allowance for credit losses, the recoverability of property, plant and equipment, the incremental borrowing rate for lease liabilities, the recoverability of intangible assets and other long-lived assets, fair value measurements, including those related to financial instruments, goodwill and intangible assets, valuation allowances on tax assets, pension and postretirement benefit obligations, contingencies and the identification and valuation of assets acquired and liabilities assumed in connection with business combinations.

Leases (Tables)

3 Months Ended

Jul. 04, 2021

Leases [Abstract]

Lessee, Supplemental Balance Sheet Information Related To Leases

The following table presents lease assets and liabilities and their balance sheet classification:


	Classification	As of July 4, 2021		As of March 31, 2021
Operating Leases:
Right-of-use assets	Other assets	$	60,480	$	62,159
Operating lease current liabilities	Accrued expenses	21,057		21,774
Operating lease non-current liabilities	Other liabilities	41,825		42,528
Finance Leases:
Right-of-use assets	Property, plant, and equipment, net	$	524	$	573
Finance lease current liabilities	Accrued expenses	235		236
Finance lease non-current liabilities	Other liabilities	382		435

Lease, Cost

The components of lease expense for the first quarter ended July 4, 2021 and July 5, 2020 were as follows:


		Quarter ended
	Classification	July 4, 2021		July 5, 2020
Operating Leases:
Operating lease cost	Operating expenses	$	6,716	$	6,936
Variable lease cost	Operating expenses	2,573		2,119
Short term lease cost	Operating expenses	1,817		1,829
Finance Leases:
Depreciation	Operating expenses	$	60	$	42
Interest expense	Interest expense	8		7
Total		$	11,174	$	10,933

Lessee, Supplemental Information Related To Leases

The following table presents the weighted average lease term and discount rates for leases as of July 4, 2021 and March 31, 2021:

July 4, 2021

March 31, 2021

Operating Leases:

Weighted average remaining lease term (years)

5.6 years

5.5 years

Weighted average discount rate

5.15%

5.16%

Finance Leases:

Weighted average remaining lease term (years)

2.9 years

3.1 years

Weighted average discount rate

4.81%

Lessee, Operating Lease, Liability, Maturity

The following table presents future payments due under leases reconciled to lease liabilities as of July 4, 2021:


	Finance Leases		Operating Leases
Nine months ended March 31, 2022	$	200	$	18,344
Year ended March 31,
2023	220		17,097
2024	160		11,142
2025	47		7,341
2026	26		5,428
Thereafter	—		13,396
Total undiscounted lease payments	653		72,748
Present value discount	36		9,866
Lease liability	$	617	$	62,882

Finance Lease, Liability, Maturity

The following table presents future payments due under leases reconciled to lease liabilities as of July 4, 2021:


	Finance Leases		Operating Leases
Nine months ended March 31, 2022	$	200	$	18,344
Year ended March 31,
2023	220		17,097
2024	160		11,142
2025	47		7,341
2026	26		5,428
Thereafter	—		13,396
Total undiscounted lease payments	653		72,748
Present value discount	36		9,866
Lease liability	$	617	$	62,882

Lessee, Supplemental Cash Flow Information Related To Leases

The following table presents supplemental disclosures of cash flow information related to leases for the first quarter ended July 4, 2021 and July 5, 2020:


	Quarter ended
	July 4, 2021		July 5, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$	8	$	7
Operating cash flows from operating leases	6,765		6,921
Financing cash flows from finance leases	60		41
Supplemental non-cash information on lease liabilities arising from right-of-use assets:
Right-of-use assets obtained in exchange for new finance lease liabilities	$	—	$	—
Right-of-use assets obtained in exchange for new operating lease liabilities	3,681		6,177

Goodwill and Other Intangible Assets (Tables)

3 Months Ended

Jul. 04, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets

Information regarding the Company’s other intangible assets are as follows:


	Balance as of
	July 4, 2021						March 31, 2021
	Gross Amount		Accumulated Amortization		Net Amount		Gross Amount		Accumulated Amortization		Net Amount
Indefinite-lived intangible assets:
Trademarks	$	148,296	$	(953)	$	147,343	$	148,164	$	(953)	$	147,211
Finite-lived intangible assets:
Customer relationships	299,366		(92,993)		206,373		298,576		(87,308)		211,268
Non-compete	2,825		(2,825)		—		2,825		(2,825)		—
Technology	97,542		(31,887)		65,655		97,349		(29,561)		67,788
Trademarks	8,012		(3,789)		4,223		8,012		(3,381)		4,631
Licenses	1,196		(1,196)		—		1,196		(1,196)		—
Total	$	557,237	$	(133,643)	$	423,594	$	556,122	$	(125,224)	$	430,898

Schedule of Goodwill

The following table presents the amount of goodwill, as well as any changes in the carrying amount of goodwill by segment during the first quarter of fiscal 2022:


	Energy Systems		Motive Power		Specialty		Total
Balance at March 31, 2021	$	279,676	$	327,055	$	98,862	$	705,593

Foreign currency translation adjustment	5,788		1,300		196		7,284
Balance as of July 4, 2021	$	285,464	$	328,355	$	99,058	$	712,877

Inventories (Tables)

3 Months Ended

Jul. 04, 2021

Inventory Disclosure [Abstract]

Summary Of Inventories


	July 4, 2021		March 31, 2021
Raw materials	$	164,688	$	147,040
Work-in-process	103,855		97,715
Finished goods	295,371		273,492
Total	$	563,914	$	518,247

Fair Value of Financial Instruments (Tables)

3 Months Ended

Jul. 04, 2021

Fair Value Disclosures [Abstract]

Financial Assets And (Liabilities), Measured At Fair Value On A Recurring Basis

The following tables represent the financial assets and (liabilities) measured at fair value on a recurring basis as of July 4, 2021 and March 31, 2021, and the basis for that measurement:


	Total Fair Value Measurement July 4, 2021		Quoted Price in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Lead forward contracts	$	3,781	$	—	$	3,781	$	—
Foreign currency forward contracts	180		—		180		—
Total derivatives	$	3,961	$	—	$	3,961	$	—


	Total Fair Value Measurement March 31, 2021		Quoted Price in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Lead forward contracts	$	(1,980)	$	—	$	(1,980)	$	—
Foreign currency forward contracts	424		—		424		—
Total derivatives	$	(1,556)	$	—	$	(1,556)	$	—

Carrying Amounts And Estimated Fair Values Of Company's Financial Instruments

The carrying amounts and estimated fair values of the Company’s derivatives and Senior Notes at July 4, 2021 and March 31, 2021 were as follows:


	July 4, 2021				March 31, 2021
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Financial assets:
Derivatives (1)	$	3,961	$	3,961	$	—	$	—
Financial liabilities:
Senior Notes (2)	$	600,000	$	625,500	$	600,000	$	621,000
Derivatives (1)	—		—		1,556		1,556

(1)Represents lead and foreign currency forward contracts (see Note 7 for asset and liability positions of the lead and foreign currency forward contracts at July 4, 2021 and March 31, 2021).

(2)The fair value amount of the Senior Notes at July 4, 2021 and March 31, 2021 represent the trading value of the instruments.

Derivative Financial Instruments (Tables)

3 Months Ended

Jul. 04, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Value of Derivative Instruments

July 4, 2021 and March 31, 2021


	Derivatives and Hedging Activities Designated as Cash Flow Hedges				Derivatives and Hedging Activities Not Designated as Hedging Instruments
	July 4, 2021		March 31, 2021		July 4, 2021		March 31, 2021
Prepaid and other current assets:
Lead forward contracts	$	3,781	$	—	$	—	$	—
Foreign currency forward contracts	271		524		—		—
Total assets	$	4,052	$	524	$	—	$	—
Accrued expenses:
Lead forward contracts	$	—	$	1,980	$	—	$	—
Foreign currency forward contracts	—		—		91		100
Total liabilities	$	—	$	1,980	$	91	$	100

The Effect Of Derivative Instruments On Consolidated Condensed Statements Of Income

The Effect of Derivative Instruments on the Consolidated Condensed Statements of Income

For the quarter ended July 4, 2021


Derivatives Designated as Cash Flow Hedges	Pretax Gain (Loss) Recognized in AOCI on Derivative (Effective Portion)		Location of Gain (Loss) Reclassified from AOCI into Income (Effective Portion)	Pretax Gain (Loss) Reclassified from AOCI into Income (Effective Portion)
Lead forward contracts	$	7,572	Cost of goods sold	$	2,459
Foreign currency forward contracts	(189)		Cost of goods sold	(160)
Total	$	7,383		$	2,299


Derivatives Not Designated as Hedging Instruments	Location of Gain (Loss) Recognized in Income on Derivatives	Pretax Gain (Loss)
Foreign currency forward contracts	Other (income) expense, net	$	(6)
Total		$	(6)

The Effect of Derivative Instruments on the Consolidated Condensed Statements of Income

For the quarter ended July 5, 2020


Derivatives Designated as Cash Flow Hedges	Pretax Gain (Loss) Recognized in AOCI on Derivative (Effective Portion)		Location of Gain (Loss) Reclassified from AOCI into Income (Effective Portion)	Pretax Gain (Loss) Reclassified from AOCI into Income (Effective Portion)
Lead forward contracts	$	(1,274)	Cost of goods sold	$	(3,799)
Foreign currency forward contracts	261		Cost of goods sold	(283)
Total	$	(1,013)		$	(4,082)


Derivatives Not Designated as Hedging Instruments	Location of Gain (Loss) Recognized in Income on Derivatives	Pretax Gain (Loss)
Foreign currency forward contracts	Other (income) expense, net	$	262
Total		$	262

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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+ Details

Warranty (Tables)

3 Months Ended

Jul. 04, 2021

Product Warranties Disclosures [Abstract]

Analysis Of Changes In Liability For Product Warranties

An analysis of changes in the liability for product warranties is as follows:


	Quarter ended
	July 4, 2021		July 5, 2020
Balance at beginning of period	$	58,962	$	63,525
Current period provisions	5,330		6,974
Costs incurred	(5,252)		(11,310)

Foreign currency translation adjustment	127		582
Balance at end of period	$	59,167	$	59,771

Restructuring Plans (Tables)

3 Months Ended

Jul. 04, 2021

Restructuring and Related Activities [Abstract]

Reconciliation of Restructuring Reserve

Restructuring and exit charges for the first quarter of fiscal 2022 by reportable segments are as follows:


	Quarter ended July 4, 2021
	Energy Systems		Motive Power		Specialty		Total
Restructuring charges	$	858	$	432	$	36	$	1,326
Exit charges	(370)		8,101		(1,225)		6,506
Restructuring and other exit charges	$	488	$	8,533	$	(1,189)	$	7,832

A roll-forward of the restructuring reserve, excluding exit charges, is as follows:


Balance as of March 31, 2021	$	2,595
Accrued	1,326
Costs incurred	(2,142)
Foreign currency impact	65
Balance as of July 4, 2021	$	1,844

Debt (Tables)

3 Months Ended

Jul. 04, 2021

Debt Disclosure [Abstract]

Long-Term Debt And Capital Lease Obligations

The following summarizes the Company’s long-term debt as of July 4, 2021 and March 31, 2021:


	July 4, 2021				March 31, 2021
	Principal		Unamortized Issuance Costs		Principal		Unamortized Issuance Costs
Senior Notes	$	600,000	$	4,806	$	600,000	$	5,106
Amended Credit Facility, due 2022	426,319		1,097		376,039		1,315

	$	1,026,319	$	5,903	$	976,039	$	6,421
Less: Unamortized issuance costs	5,903				6,421
Long-term debt, net of unamortized issuance costs	$	1,020,416			$	969,618

Retirement Plans (Tables)

3 Months Ended

Jul. 04, 2021

Retirement Benefits [Abstract]

Net Periodic Benefit Cost Related To Defined Benefit Pension Plans

The following tables present the components of the Company’s net periodic benefit cost related to its defined benefit pension plans:


	United States Plans				International Plans
	Quarter ended				Quarter ended
	July 4, 2021		July 5, 2020		July 4, 2021		July 5, 2020
Service cost	$	—	$	—	$	299	$	235
Interest cost	130		132		366		327
Expected return on plan assets	(128)		(65)		(563)		(447)
Amortization and deferral	5		133		303		244

Net periodic benefit cost	$	7	$	200	$	405	$	359

Stockholders' Equity and Noncontrolling Interests (Tables)

3 Months Ended

Jul. 04, 2021

Equity [Abstract]

Change In Number Of Shares Of Common Stock Outstanding

The following demonstrates the change in the number of shares of common stock outstanding during the first quarter ended July 4, 2021:


Shares outstanding as of March 31, 2021						42,753,020
Purchase of treasury stock						(329,008)

Shares issued under equity-based compensation plans, net of equity awards surrendered for option price and taxes						87,124
Shares outstanding as of July 4, 2021						42,511,136

Components Of Accumulated Other Comprehensive Income

The components of AOCI, net of tax, as of July 4, 2021 and March 31, 2021, are as follows:


	March 31, 2021		Before Reclassifications		Amounts Reclassified from AOCI		July 4, 2021
Pension funded status adjustment	$	(20,947)	$	—	$	240	$	(20,707)
Net unrealized gain (loss) on derivative instruments	360		5,657		(1,760)		4,257
Foreign currency translation adjustment	(95,296)		15,272		—		(80,024)
Accumulated other comprehensive (loss) income	$	(115,883)	$	20,929	$	(1,520)	$	(96,474)

Reclassification from Accumulated Other Comprehensive Income

The following table presents reclassifications from AOCI during the first quarter ended July 4, 2021:


Components of AOCI	Amounts Reclassified from AOCI		Location of (Gain) Loss Recognized on Income Statement
Derivatives in cash flow hedging relationships:
Net unrealized gain on derivative instruments	$	(2,299)	Cost of goods sold
Tax expense	539
Net unrealized gain on derivative instruments, net of tax	$	(1,760)

Defined benefit pension costs:
Prior service costs and deferrals	$	308	Net periodic benefit cost, included in other (income) expense, net - See Note 13
Tax benefit	(68)
Net periodic benefit cost, net of tax	$	240

The following table presents reclassifications from AOCI during the first quarter ended July 5, 2020:


Components of AOCI	Amounts Reclassified from AOCI		Location of (Gain) Loss Recognized on Income Statement
Derivatives in cash flow hedging relationships:
Net unrealized loss on derivative instruments	$	4,082	Cost of goods sold
Tax benefit	(966)
Net unrealized loss on derivative instruments, net of tax	$	3,116

Defined benefit pension costs:
Prior service costs and deferrals	$	377	Net periodic benefit cost, included in other (income) expense, net - See Note 13
Tax benefit	(86)
Net periodic benefit cost, net of tax	$	291

Schedule of Change in Stockholders Equity

The following demonstrates the change in equity attributable to EnerSys stockholders and nonredeemable noncontrolling interests during the first quarter ended July 4, 2021:


(In Thousands, Except Per Share Data)	Preferred Stock		Common Stock		Additional Paid-in Capital		Treasury Stock		Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Contra-Equity		Total EnerSys Stockholders’ Equity		Non- redeemable Non- Controlling Interests		Total Equity
Balance at March 31, 2021	$	—	$	555	$	554,168	$	(563,481)	$	1,669,751	$	(115,883)	$	(5,355)	$	1,539,755	$	3,821	$	1,543,576
Stock-based compensation	—		—		3,659		—		—		—		—		3,659		—		3,659
Exercise of stock options	—		1		386		—		—		—		—		387		—		387
Shares issued under equity awards (taxes paid related to net share settlement of equity awards), net	—		—		(4,803)		—		—		—		—		(4,803)		—		(4,803)
Purchase of common stock	—		—		—		(31,512)		—		—		—		(31,512)		—		(31,512)
Other	—		—		44		170		—		—		—		214		—		214
Net earnings	—		—		—		—		43,929		—		—		43,929		—		43,929
Dividends ($0.175 per common share)	—		—		173		—		(7,608)		—		—		(7,435)		—		(7,435)
Dissolution of joint venture	—		—		—		—		—		—		—		—		(47)		(47)
Other comprehensive income:
Pension funded status adjustment (net of tax benefit of $68)	—		—		—		—		—		240		—		240		—		240
Net unrealized gain (loss) on derivative instruments (net of tax expense of $1,187)	—		—		—		—		—		3,897		—		3,897		—		3,897
Foreign currency translation adjustment	—		—		—		—		—		15,272		—		15,272		49		15,321
Balance at July 4, 2021	$	—	$	556	$	553,627	$	(594,823)	$	1,706,072	$	(96,474)	$	(5,355)	$	1,563,603	$	3,823	$	1,567,426

The following demonstrates the change in equity attributable to EnerSys stockholders and nonredeemable noncontrolling interests during the first quarter and current quarter ended July 5, 2020:


(In Thousands, Except Per Share Data)	Preferred Stock		Common Stock		Additional Paid-in Capital		Treasury Stock		Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Contra-Equity		Total EnerSys Stockholders’ Equity		Non- redeemable Non- Controlling Interests		Total Equity
Balance at March 31, 2020	$	—	$	551	$	529,100	$	(564,376)	$	1,556,980	$	(215,006)	$	(6,724)	$	1,300,525	$	3,537	$	1,304,062
Stock-based compensation	—		—		5,053		—		—		—		—		5,053		—		5,053
Exercise of stock options	—		2		479		—		—		—		—		481		—		481
Shares issued under equity awards (taxes paid related to net share settlement of equity awards), net	—		—		(3,135)		—		—		—		—		(3,135)		—		(3,135)

Other	—		—		(123)		299		—		—		—		176		—		176
Net earnings	—		—		—		—		35,183		—		—		35,183		—		35,183
Dividends ($0.175 per common share)	—		—		172		—		(7,600)		—		—		(7,428)		—		(7,428)
Other comprehensive income:
Pension funded status adjustment (net of tax benefit of $86)	—		—		—		—		—		291		—		291		—		291
Net unrealized gain (loss) on derivative instruments (net of tax expense of $726)	—		—		—		—		—		2,343		—		2,343		—		2,343
Foreign currency translation adjustment	—		—		—		—		—		28,139		—		28,139		8		28,147
Balance at July 5, 2020	$	—	$	553	$	531,546	$	(564,077)	$	1,584,563	$	(184,233)	$	(6,724)	$	1,361,628	$	3,545	$	1,365,173

Earnings Per Share (Tables)

3 Months Ended

Jul. 04, 2021

Earnings Per Share [Abstract]

Schedule of Weighted Average Number of Shares


	Quarter ended
	July 4, 2021		July 5, 2020
Net earnings attributable to EnerSys stockholders	$	43,929	$	35,183
Weighted-average number of common shares outstanding:
Basic	42,700,329		42,385,888
Dilutive effect of:
Common shares from exercise and lapse of equity awards, net of shares assumed reacquired	837,015		546,166
Diluted weighted-average number of common shares outstanding	43,537,344		42,932,054
Basic earnings per common share attributable to EnerSys stockholders	$	1.03	$	0.83
Diluted earnings per common share attributable to EnerSys stockholders	$	1.01	$	0.82
Anti-dilutive equity awards not included in diluted weighted-average common shares	165,386		386,263

Business Segments Business Segments (Tables)

3 Months Ended

Jul. 04, 2021

Segment Reporting [Abstract]

Selected Financial Data for Reportable Business Segments and Product Lines

Summarized financial information related to the Company's reportable segments for the first quarter ended July 4, 2021 and July 5, 2020, is shown below:


	Quarter ended
	July 4, 2021		July 5, 2020
Net sales by segment to unaffiliated customers (1)
Energy Systems	$	371,206	$	353,387
Motive Power	336,116		262,834
Specialty	107,571		88,703
Total net sales	$	814,893	$	704,924
Operating earnings by segment
Energy Systems	$	7,106	$	22,085
Motive Power	50,634		27,276
Specialty	10,992		5,246


Restructuring and other exit charges - Energy Systems	(488)		(512)
Restructuring and other exit charges - Motive Power	(8,533)		(762)
Restructuring and other exit charges - Specialty	1,189		(113)



Total operating earnings (2)	$	60,900	$	53,220

(1) Reportable segments do not record inter-segment revenues and accordingly there are none to report.

(2) The Company does not allocate interest expense or other (income) expense, net, to the reportable segments.

Revenue Recognition - (Additional Information) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 04, 2021	Jul. 05, 2020	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Net sales	$ 814,893	$ 704,924
Contract with customer, liability, current portion	18,150		$ 15,992
Contract with customer, liability, noncurrent portion	1,686		2,072
Deferred Revenue, Revenue Recognized	3,596	3,466
Unbilled contracts receivable	50,290		$ 46,451
Right to recover product	4,274
Refund liability	7,590
Transferred over Time
Disaggregation of Revenue [Line Items]
Net sales	40,904	36,102
Service
Disaggregation of Revenue [Line Items]
Net sales	$ 82,518	$ 68,758

Revenue Recognition - (Remaining Performance Obligation) (Details) $ in Thousands	Jul. 04, 2021 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 114,863
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 88,019
Remaining performance obligation, timing of satisfaction	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 26,033
Remaining performance obligation, timing of satisfaction	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 774
Remaining performance obligation, timing of satisfaction	3 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 37
Remaining performance obligation, timing of satisfaction	4 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 0
Remaining performance obligation, timing of satisfaction	5 years

Leases - (Additional Information) (Details)	Jul. 04, 2021
Minimum
Lessee, Lease, Description [Line Items]
Contract term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Contract term	17 years

Leases - (Balance Sheet Classification) (Details) - USD ($) $ in Thousands	Jul. 04, 2021	Mar. 31, 2021
Leases [Abstract]
Operating lease right-of-use asset	$ 60,480	$ 62,159
Operating lease current liabilities	21,057	21,774
Operating lease non-current liabilities	41,825	42,528
Finance lease right-of-use asset	524	573
Finance lease current liabilities	235	236
Finance lease non-current liabilities	$ 382	$ 435

Leases - (Lease Cost) (Details) - USD ($) $ in Thousands	3 Months Ended
Leases - (Lease Cost) (Details) - USD ($) $ in Thousands	Jul. 04, 2021	Jul. 05, 2020
Operating Leases:
Operating lease cost	$ 6,716	$ 6,936
Variable lease cost	2,573	2,119
Short term lease cost	1,817	1,829
Finance Leases:
Depreciation	60	42
Interest expense	8	7
Total	$ 11,174	$ 10,933

Leases - (Additional Information Related to Leases) (Details)	Jul. 04, 2021	Mar. 31, 2021
Operating Leases:
Weighted average remaining lease term (years)	5 years 7 months 6 days	5 years 6 months
Weighted average discount rate	5.15%	5.16%
Finance Leases:
Weighted average remaining lease term (years)	2 years 10 months 24 days	3 years 1 month 6 days
Weighted average discount rate	4.81%	4.81%

Leases - (Finance and Operating Lease Maturity Schedules) (Details) $ in Thousands	Jul. 04, 2021 USD ($)
Finance Leases
Nine months ended March 31, 2022	$ 200
Year ended March 31, 2023	220
Year ended March 31, 2024	160
Year ended March 31, 2025	47
Year ended March 31, 2026	26
Thereafter	0
Total undiscounted lease payments	653
Present value discount	36
Lease liability	617
Operating Leases
Nine months ended March 31, 2022	18,344
Year ended March 31, 2023	17,097
Year ended March 31, 2024	11,142
Year ended March 31, 2025	7,341
Year ended March 31, 2026	5,428
Thereafter	13,396
Total undiscounted lease payments	72,748
Present value discount	9,866
Lease liability	$ 62,882

Leases - (Supplemental Cash Flow Information) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 04, 2021	Jul. 05, 2020
Cash Flow, Lessee [Abstract]
Operating cash flows from finance leases	$ 8	$ 7
Operating cash flows from operating leases	6,765	6,921
Financing cash flows from finance leases	60	41
Supplemental non-cash information on lease liabilities arising from right-of-use assets:
Right-of-use assets obtained in exchange for new finance lease liabilities	0	0
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 3,681	$ 6,177

Goodwill and Other Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Jul. 04, 2021	Mar. 31, 2021
Acquired Finite-Lived Intangible Assets [Line Items]
Total intangible assets, gross amount	$ 557,237	$ 556,122
Total intangible assets, accumulated amortization	(133,643)	(125,224)
Total intangible assets, net amount	423,594	430,898
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross amount	299,366	298,576
Finite-lived intangible assets, accumulated amortization	(92,993)	(87,308)
Finite-lived intangible assets, net amount	206,373	211,268
Non-compete
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross amount	2,825	2,825
Finite-lived intangible assets, accumulated amortization	(2,825)	(2,825)
Finite-lived intangible assets, net amount	0	0
Technology
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross amount	97,542	97,349
Finite-lived intangible assets, accumulated amortization	(31,887)	(29,561)
Finite-lived intangible assets, net amount	65,655	67,788
Trademarks
Acquired Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets, gross amount	148,296	148,164
Indefinite-lived intangible assets, accumulated amortization	(953)	(953)
Indefinite-lived intangible assets, net amount	147,343	147,211
Finite-lived intangible assets, gross amount	8,012	8,012
Finite-lived intangible assets, accumulated amortization	(3,789)	(3,381)
Finite-lived intangible assets, net amount	4,223	4,631
Licenses
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross amount	1,196	1,196
Finite-lived intangible assets, accumulated amortization	(1,196)	(1,196)
Finite-lived intangible assets, net amount	$ 0	$ 0

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 04, 2021	Jul. 05, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 8,419	$ 8,555
Amortization of intangible assets, remainder of 2022	24,205
Amortization of intangible assets, 2023	30,399
Amortization of intangible assets, 2024	27,544
Amortization of intangible assets, 2025	26,552
Amortization of intangible assets, 2026	$ 25,618

Goodwill and Other Intangible Assets - (Goodwill) (Details) $ in Thousands	3 Months Ended
	Jul. 04, 2021 USD ($)
Goodwill [Line Items]
Balance at March 31, 2021	$ 705,593
Foreign currency translation adjustment	7,284
Balance as of July 4, 2021	712,877
Energy Systems
Goodwill [Line Items]
Balance at March 31, 2021	279,676
Foreign currency translation adjustment	5,788
Balance as of July 4, 2021	285,464
Motive Power
Goodwill [Line Items]
Balance at March 31, 2021	327,055
Foreign currency translation adjustment	1,300
Balance as of July 4, 2021	328,355
Specialty
Goodwill [Line Items]
Balance at March 31, 2021	98,862
Foreign currency translation adjustment	196
Balance as of July 4, 2021	$ 99,058

Inventories - (Details) - USD ($) $ in Thousands	Jul. 04, 2021	Mar. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 164,688	$ 147,040
Work-in-process	103,855	97,715
Finished goods	295,371	273,492
Total	$ 563,914	$ 518,247

Fair Value of Financial Instruments - (Additional Information) (Details) - USD ($) $ in Thousands	Jul. 04, 2021	Mar. 31, 2021	Dec. 11, 2019	Apr. 23, 2015
4.375% Senior Notes due 2027
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate	4.375%		4.375%
Long-term debt	$ 300,000		$ 300,000
Face value of trades, percentage	104.00%	102.00%
5.00% Senior Notes due 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate	5.00%			5.00%
Long-term debt	$ 300,000			$ 300,000
Face value of trades, percentage	104.00%	105.00%

- Definition

Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References + Details

Fair Value of Financial Instruments - (Carrying Amounts and Estimated Fair Values) (Details) - USD ($) $ in Thousands	Jul. 04, 2021	Mar. 31, 2021
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	$ 3,961	$ 0
Senior Notes	600,000	600,000
Derivative liability	0	1,556
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	3,961	0
Senior Notes	625,500	621,000
Derivative liability	$ 0	$ 1,556

Derivative Financial Instruments - (Additional Information) (Details) $ in Thousands, lb in Millions	Jul. 04, 2021 USD ($) lb	Mar. 31, 2021 USD ($) lb
Cost of Sales
Derivatives, Fair Value [Line Items]
Foreign currency cash flow hedge loss to be reclassified during next 12 months	$ 5,685
Lead forward contracts
Derivatives, Fair Value [Line Items]
Notional amount in pounds \| lb	50.0	54.5
Fair value of hedges, net	$ 48,705	$ 50,567
Foreign currency forward contracts
Derivatives, Fair Value [Line Items]
Derivative notional amount	26,495	26,033
Foreign currency forward contracts \| Derivatives and Hedging Activities Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative notional amount	$ 29,262	$ 28,995

Derivative Financial Instruments - (Location and Amounts of Derivative Fair Values) (Details) - USD ($) $ in Thousands	Jul. 04, 2021	Mar. 31, 2021
Derivatives and Hedging Activities Designated as Cash Flow Hedges
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	$ 4,052	$ 524
Derivatives liabilities, fair value	0	1,980
Derivatives and Hedging Activities Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	0	0
Derivatives liabilities, fair value	91	100
Lead forward contracts \| Derivatives and Hedging Activities Designated as Cash Flow Hedges \| Prepaid and other current assets
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	3,781	0
Lead forward contracts \| Derivatives and Hedging Activities Designated as Cash Flow Hedges \| Accrued expenses
Derivatives, Fair Value [Line Items]
Derivatives liabilities, fair value	0	1,980
Lead forward contracts \| Derivatives and Hedging Activities Not Designated as Hedging Instruments \| Prepaid and other current assets
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	0	0
Lead forward contracts \| Derivatives and Hedging Activities Not Designated as Hedging Instruments \| Accrued expenses
Derivatives, Fair Value [Line Items]
Derivatives liabilities, fair value	0	0
Foreign currency forward contracts \| Derivatives and Hedging Activities Designated as Cash Flow Hedges \| Prepaid and other current assets
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	271	524
Foreign currency forward contracts \| Derivatives and Hedging Activities Designated as Cash Flow Hedges \| Accrued expenses
Derivatives, Fair Value [Line Items]
Derivatives liabilities, fair value	0	0
Foreign currency forward contracts \| Derivatives and Hedging Activities Not Designated as Hedging Instruments \| Prepaid and other current assets
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	0	0
Foreign currency forward contracts \| Derivatives and Hedging Activities Not Designated as Hedging Instruments \| Accrued expenses
Derivatives, Fair Value [Line Items]
Derivatives liabilities, fair value	$ 91	$ 100

Derivative Financial Instruments - (Derivatives Designated as Cash Flow Hedges) (Details) - Derivatives Designated as Cash Flow Hedges - USD ($) $ in Thousands	3 Months Ended
	Jul. 04, 2021	Jul. 05, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Pretax Gain (Loss) Recognized in AOCI on Derivative (Effective Portion)	$ 7,383	$ (1,013)
Pretax Gain (Loss) Reclassified from AOCI into Income (Effective Portion)	2,299	(4,082)
Lead forward contracts \| Cost of Sales
Derivative Instruments, Gain (Loss) [Line Items]
Pretax Gain (Loss) Recognized in AOCI on Derivative (Effective Portion)	7,572	(1,274)
Pretax Gain (Loss) Reclassified from AOCI into Income (Effective Portion)	2,459	(3,799)
Foreign currency forward contracts \| Cost of Sales
Derivative Instruments, Gain (Loss) [Line Items]
Pretax Gain (Loss) Recognized in AOCI on Derivative (Effective Portion)	(189)	261
Pretax Gain (Loss) Reclassified from AOCI into Income (Effective Portion)	$ (160)	$ (283)

Derivative Financial Instruments - (Derivatives Not Designated as Hedging Instruments) (Details) - Derivatives Not Designated as Hedging Instruments - USD ($) $ in Thousands	3 Months Ended
	Jul. 04, 2021	Jul. 05, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives Not Designated as Hedging Instruments	$ (6)	$ 262
Other Income Expense
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives Not Designated as Hedging Instruments	$ (6)	$ 262

Income Taxes - (Additional Information) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 04, 2021	Jul. 05, 2020
Income Tax Disclosure [Abstract]
Additional tax benefit recognized	$ 1,883
Effective income tax rates	16.00%	15.40%
Foreign income as a percentage of worldwide income	72.00%	67.00%
Foreign effective income tax rates	9.00%
Tax rate of Swiss subsidiary	8.00%	6.00%

Warranty - (Analysis of Changes in the Liability) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 04, 2021	Jul. 05, 2020
Product Warranties Disclosures [Abstract]
Balance at beginning of period	$ 58,962	$ 63,525
Current period provisions	5,330	6,974
Costs incurred	(5,252)	(11,310)
Foreign currency translation adjustment	127	582
Balance at end of period	$ 59,167	$ 59,771

Restructuring Plans - (Additional Information) (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Jul. 04, 2021 USD ($)	Jul. 05, 2020 USD ($)	Mar. 31, 2021 USD ($) Employee	Mar. 31, 2020 USD ($)	Mar. 31, 2019 USD ($)
Restructuring Cost and Reserve [Line Items]
Expected remaining cost	$ 4,666
Restructuring and other exit charges	7,832	$ 1,387
Write-off of assets relating to exit activities	2,141	471
Proceeds from disposal of facility	3,268	$ 0
Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1,326
Exit charges	6,506
Restructuring and other exit charges	7,832
Restructuring costs incurred	2,142
Employee Severance \| Energy Systems
Restructuring Cost and Reserve [Line Items]
Restructuring charges	858
Exit charges	(370)
Restructuring and other exit charges	488
Employee Severance \| Motive Power
Restructuring Cost and Reserve [Line Items]
Restructuring charges	432
Exit charges	8,101
Restructuring and other exit charges	8,533
Employee Severance \| Specialty
Restructuring Cost and Reserve [Line Items]
Restructuring charges	36
Exit charges	(1,225)
Restructuring and other exit charges	(1,189)
Closure of Facility in Hagen, Germany
Restructuring Cost and Reserve [Line Items]
Expected additional restructuring charges			$ 60,000
Estimated number of positions eliminated \| Employee			200
Closure of Facility in Hagen, Germany \| Cash charges
Restructuring Cost and Reserve [Line Items]
Expected additional restructuring charges			$ 40,000
Closure of Facility in Hagen, Germany \| Severance, Cash Charges
Restructuring Cost and Reserve [Line Items]
Expected additional restructuring charges			23,331
Closure of Facility in Hagen, Germany \| Non Cash Charges
Restructuring Cost and Reserve [Line Items]
Expected additional restructuring charges			20,000
Closure of Facility in Hagen, Germany \| Severance, Non Cash Charges
Restructuring Cost and Reserve [Line Items]
Expected additional restructuring charges			7,946
Closure of Facility in Hagen, Germany \| Employee Severance
Restructuring Cost and Reserve [Line Items]
Write-off of assets relating to exit activities	8,471
Closure Of Facility In Targovishte Bulgaria
Restructuring Cost and Reserve [Line Items]
Expected remaining cost					$ 26,000
Restructuring and other exit charges			$ 220	$ 5,123	$ 20,242
Proceeds from disposal of facility	1,489
Gain on disposal of facility	1,225
Closure of Facility in Samudio, Spain
Restructuring Cost and Reserve [Line Items]
Gain on disposal of facility	1,779
Proceeds for sale of certain licenses and assets	740
Richmond Kentucky Battery Formation Area Fire
Restructuring Cost and Reserve [Line Items]
Prepaid Insurance	10,000
Richmond Kentucky Battery Formation Area Fire \| Cleanup
Restructuring Cost and Reserve [Line Items]
Restructuring and other exit charges	9,274
Richmond Kentucky Battery Formation Area Fire \| Business Interruption
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	$ 3,700

Restructuring Plans - (Roll-forward of Restructuring Reserve) (Details) - Employee Severance $ in Thousands	3 Months Ended
	Jul. 04, 2021 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring reserve, beginning balance	$ 2,595
Accrued	1,326
Costs incurred	(2,142)
Foreign currency impact	65
Restructuring reserve, ending balance	$ 1,844

Debt - (Long-term Debt Including Capital Lease Obligations) (Details) - USD ($) $ in Thousands	Jul. 04, 2021	Mar. 31, 2021
Debt Instrument [Line Items]
Debt and capital lease obligations	$ 1,026,319	$ 976,039
Unamortized Issuance Costs	5,903	6,421
Long-term debt, net of unamortized issuance costs	1,020,416	969,618
Senior Notes
Debt Instrument [Line Items]
Long-term debt	600,000	600,000
Unamortized Issuance Costs	4,806	5,106
Secured Debt \| Incremental Commitment Agreement \| Amended Credit Facility, due 2022
Debt Instrument [Line Items]
Incremental term loan commitment	426,319	376,039
Unamortized Issuance Costs	$ 1,097	$ 1,315

Debt - (Additional Information) (Details)			3 Months Ended
Debt - (Additional Information) (Details)	Dec. 11, 2019 USD ($)	Aug. 04, 2017 USD ($)	Jul. 04, 2021 USD ($)	Mar. 31, 2021 USD ($)	Mar. 31, 2020 USD ($)	Mar. 31, 2020 CAD ($)	Dec. 28, 2019	Apr. 23, 2015 USD ($)
Debt Instrument [Line Items]
Increase in borrowing capacity limit		$ 325,000,000
Company owned capital stock, percentage securing senior secured credit facility		65.00%
Short-term debt			$ 40,260,000	$ 34,153,000
Short-term debt, weighted average interest rate			2.00%
Amortization expense relating to debt issuance costs and included in interest expense			$ 518,000
Deferred issuance costs, net of accumulated amortization			$ 5,903,000	6,421,000
4.375% Senior Notes due 2027
Debt Instrument [Line Items]
Interest rate	4.375%		4.375%
Long-term debt	$ 300,000,000		$ 300,000,000
Proceeds from issuance of debt, net of debt issuance costs	$ 296,250,000
5.00% Senior Notes due 2023
Debt Instrument [Line Items]
Interest rate			5.00%					5.00%
Long-term debt			$ 300,000,000					$ 300,000,000
Standby Letters of Credit
Debt Instrument [Line Items]
Available lines of credit			745,809,000	697,875,000
Stand by letters of credit			2,959,000	2,959,000
Outstanding amount			107,934,000	$ 122,303,000
Maximum
Debt Instrument [Line Items]
Consideration transferred			250,000
Amended Credit Facility, due 2022 \| Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		$ 600,000,000			$ 100,000,000
Available lines of credit			60,000,000
Amended Credit Facility, due 2022 \| Secured Debt
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity					299,105,000
Debt instrument, face amount		$ 150,000,000
Available lines of credit			366,319,000
Current portion of long-term debt			$ 45,790,000
Amended 2017 Term Loan \| Secured Debt
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity					449,105,000	$ 133,050,000
Amended 2017 Term Loan \| Term Loan
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity					99,105,000
Amended 2017 Revolver \| Secured Debt
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity					$ 700,000,000
LIBOR \| 2017 Revolver And 2017 Term Loan
Debt Instrument [Line Items]
Basis spread on variable rate		1.25%
LIBOR \| 2017 Revolver And 2017 Term Loan \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate		1.25%
LIBOR \| 2017 Revolver And 2017 Term Loan \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate		2.00%
Federal Funds Effective Rate \| 2017 Revolver And 2017 Term Loan
Debt Instrument [Line Items]
Basis spread on variable rate		0.50%
Eurocurrency Base Rate \| 2017 Revolver And 2017 Term Loan
Debt Instrument [Line Items]
Basis spread on variable rate		1.00%
CDOR \| 2017 Revolver And 2017 Term Loan
Debt Instrument [Line Items]
Basis spread on variable rate		0.50%
Debt Instrument Quarterly Installments Beginning December 31, 2018 Through December 30, 2019
Debt Instrument [Line Items]
Debt instrument, periodic payment		$ 5,645,000
Debt Instrument Quarterly Installments Beginning December 31, 2019 Through December 30, 2020
Debt Instrument [Line Items]
Debt instrument, periodic payment		8,468,000
Debt Instrument Quarterly Installments Beginning December 31, 2020 Through September 29, 2022
Debt Instrument [Line Items]
Debt instrument, periodic payment		11,290,000
Debt Instrument Final Installments Payable On September 30, 2022
Debt Instrument [Line Items]
Debt instrument, periodic payment		$ 320,000,000
Maximum Leverage Ratio
Debt Instrument [Line Items]
Measurement input			3.50				4.00
Maximum Leverage Ratio \| Minimum
Debt Instrument [Line Items]
Measurement input			3.50
Maximum Leverage Ratio \| Maximum
Debt Instrument [Line Items]
Measurement input			4.00
Prior to September 15, 2027 \| 4.375% Senior Notes due 2027
Debt Instrument [Line Items]
Redemption percentage			100.00%
On or after September 15, 2027 \| 4.375% Senior Notes due 2027
Debt Instrument [Line Items]
Redemption percentage			100.00%
Change of control triggering event \| 4.375% Senior Notes due 2027
Debt Instrument [Line Items]
Redemption percentage			101.00%

Retirement Plans - (Net Periodic Benefit Cost) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 04, 2021	Jul. 05, 2020
United States Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 0	$ 0
Interest cost	130	132
Expected return on plan assets	(128)	(65)
Amortization and deferral	5	133
Net periodic benefit cost	7	200
International Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	299	235
Interest cost	366	327
Expected return on plan assets	(563)	(447)
Amortization and deferral	303	244
Net periodic benefit cost	$ 405	$ 359

Stock-Based Compensation - (Additional Information) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 04, 2021	Jul. 05, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future grants	4,173,554
Equity-based compensation expense	$ 3,659	$ 5,053
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested restricted stock units (in shares)	65,213
Awards outstanding (in shares)	811,983
Employee Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options exercised (in shares)	19,652
TSRs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards outstanding (in shares)	80,893
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards outstanding (in shares)	98,528
Non-employee Directors \| RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock unit grants during period (in shares)	1,053
Non-employee Directors \| TSRs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock unit grants during period (in shares)	45,216
Management and Other Key Employees \| Employee Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option grants outstanding (in shares)	776,144

Stockholders' Equity and Noncontrolling Interests - (Change in the Number of Shares of Common Stock Outstanding) (Details) - shares	3 Months Ended
	Jul. 04, 2021	Jul. 05, 2020
Common Stock Outstanding Roll Forward
Shares outstanding, beginning balance (in shares)	42,753,020
Purchase of treasury stock (in shares)	(329,008)	0
Shares issued towards equity-based compensation plans, net of equity awards surrendered for option price and taxes (in shares)	87,124
Shares outstanding, ending balance (in shares)	42,511,136

Stockholders' Equity and Noncontrolling Interests - (Treasury Stock) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Jul. 04, 2021	Jul. 05, 2020	Mar. 31, 2021
Equity [Abstract]
Purchase of treasury stock (in shares)	329,008	0
Treasury stock purchased during period, value	$ 31,512	$ 0
Treasury stock, shares	13,103,838		12,799,790
Treasury shares issued (in shares)	4,960
Treasury shares issued (in dollars per share)	$ 62.55

Stockholders' Equity and Noncontrolling Interests - (Components of Accumulated Other Comprehensive Income) (Details) $ in Thousands	3 Months Ended
	Jul. 04, 2021 USD ($)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Beginning balance	$ 1,543,576
Ending balance	1,567,426
Pension funded status adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Beginning balance	(20,947)
Before Reclassifications	0
Amounts Reclassified from AOCI	(240)
Ending balance	(20,707)
Net unrealized gain (loss) on derivative instruments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Beginning balance	360
Before Reclassifications	5,657
Amounts Reclassified from AOCI	1,760
Ending balance	4,257
Foreign currency translation adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Beginning balance	(95,296)
Before Reclassifications	15,272
Amounts Reclassified from AOCI	0
Ending balance	(80,024)
Accumulated other comprehensive (loss) income
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Beginning balance	(115,883)
Before Reclassifications	20,929
Amounts Reclassified from AOCI	1,520
Ending balance	$ (96,474)

- Definition

Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 45
-Paragraph 24
-URI http://asc.fasb.org/extlink&oid=124436220&loc=d3e21930-107793

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
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-Section 45
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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-URI http://asc.fasb.org/extlink&oid=124431353&loc=SL124442411-227067

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=122640432&loc=SL121648383-210437

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=123454820&loc=SL4568740-111683

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Section 65
-Paragraph 1
-Subparagraph (e)(3)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
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-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
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-URI http://asc.fasb.org/extlink&oid=124436220&loc=d3e21711-107793

Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
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-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
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Reference 27: http://www.xbrl.org/2003/role/disclosureRef
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Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Publisher FASB
-Subparagraph (a)(3)(iii)(03)

+ Details

Stockholders' Equity and Noncontrolling Interests - (Reclassifications from AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 04, 2021	Jul. 05, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net unrealized (gain) loss on derivative instruments	$ (621,674)	$ (529,947)
Derivatives in cash flow hedging relationships
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Tax expense (benefit)	539	(966)
Net of tax	(1,760)	3,116
Derivatives in cash flow hedging relationships \| Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net unrealized (gain) loss on derivative instruments	(2,299)	4,082
Defined benefit pension costs
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Prior service costs and deferrals	308	377
Tax expense (benefit)	(68)	(86)
Net of tax	$ 240	$ 291

Stockholders' Equity and Noncontrolling Interests - (Other Disclosures) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Jul. 04, 2021	Jul. 05, 2020
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 1,543,576	$ 1,304,062
Stock-based compensation	3,659	5,053
Exercise of stock options	387	481
Shares issued under equity awards (taxes paid related to net share settlement of equity awards), net	(4,803)	(3,135)
Purchase of common stock	(31,512)
Other	214	176
Net earnings	43,929	35,183
Dividends	(7,435)	(7,428)
Dissolution of joint venture	(47)
Other comprehensive income:
Pension funded status adjustment, net of tax	240	291
Net unrealized gain (loss) on derivative instruments (net of tax)	3,897	2,343
Foreign currency translation adjustment (excludes losses related to redeemable noncontrolling interests)	15,321	28,147
Ending balance	$ 1,567,426	$ 1,365,173
Dividends per common share (in dollars per share)	$ 0.175	$ 0.175
Pension funded status adjustment, tax benefit (expense)	$ 68	$ 86
Net unrealized gain (loss) on derivative instruments, tax (benefit) expense	1,187	726
Total EnerSys Stockholders’ Equity
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	1,539,755	1,300,525
Stock-based compensation	3,659	5,053
Exercise of stock options	387	481
Shares issued under equity awards (taxes paid related to net share settlement of equity awards), net	(4,803)	(3,135)
Purchase of common stock	(31,512)
Other	214	176
Net earnings	43,929	35,183
Dividends	(7,435)	(7,428)
Other comprehensive income:
Pension funded status adjustment, net of tax	240	291
Net unrealized gain (loss) on derivative instruments (net of tax)	3,897	2,343
Foreign currency translation adjustment (excludes losses related to redeemable noncontrolling interests)	15,272	28,139
Ending balance	1,563,603	1,361,628
Preferred Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	0	0
Other comprehensive income:
Ending balance	0	0
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	555	551
Exercise of stock options	1	2
Other comprehensive income:
Ending balance	556	553
Additional Paid-in Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	554,168	529,100
Stock-based compensation	3,659	5,053
Exercise of stock options	386	479
Shares issued under equity awards (taxes paid related to net share settlement of equity awards), net	(4,803)	(3,135)
Other	44	(123)
Dividends	173	172
Other comprehensive income:
Ending balance	553,627	531,546
Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(563,481)	(564,376)
Purchase of common stock	(31,512)
Other	170	299
Other comprehensive income:
Ending balance	(594,823)	(564,077)
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	1,669,751	1,556,980
Net earnings	43,929	35,183
Dividends	(7,608)	(7,600)
Other comprehensive income:
Ending balance	1,706,072	1,584,563
Accumulated Other Comprehensive Income (Loss)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(115,883)	(215,006)
Other comprehensive income:
Pension funded status adjustment, net of tax	240	291
Net unrealized gain (loss) on derivative instruments (net of tax)	3,897	2,343
Foreign currency translation adjustment (excludes losses related to redeemable noncontrolling interests)	15,272	28,139
Ending balance	(96,474)	(184,233)
Contra-Equity
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(5,355)	(6,724)
Other comprehensive income:
Ending balance	(5,355)	(6,724)
Non- redeemable Non- Controlling Interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	3,821	3,537
Dissolution of joint venture	(47)
Other comprehensive income:
Foreign currency translation adjustment (excludes losses related to redeemable noncontrolling interests)	49	8
Ending balance	$ 3,823	$ 3,545

Earnings Per Share - (Reconciliation from Basic to Diluted Average Common Shares) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Jul. 04, 2021	Jul. 05, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net earnings attributable to EnerSys stockholders	$ 43,929	$ 35,183
Basic weighted-average number of common shares outstanding (in shares)	42,700,329	42,385,888
Common shares from exercise and lapse of equity awards, net of shares assumed reacquired (in shares)	837,015	546,166
Diluted weighted-average number of common shares outstanding (in shares)	43,537,344	42,932,054
Basic earnings per common share attributable to EnerSys stockholders (in dollars per share)	$ 1.03	$ 0.83
Diluted earnings per common share attributable to EnerSys stockholders (in dollars per share)	$ 1.01	$ 0.82
Anti-dilutive equity awards not included in diluted weighted-average common shares (in shares)	165,386	386,263
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Vested restricted stock units (in shares)	65,213

Business Segments - (Details) - USD ($) $ in Thousands	3 Months Ended
Business Segments - (Details) - USD ($) $ in Thousands	Jul. 04, 2021	Jul. 05, 2020
Segment Reporting Information [Line Items]
Net sales	$ 814,893	$ 704,924
Operating earnings by segment	60,900	53,220
Restructuring charges	(7,832)	(1,387)
Energy Systems \| Americas
Segment Reporting Information [Line Items]
Net sales	371,206	353,387
Operating earnings by segment	7,106	22,085
Restructuring charges	(488)	(512)
Motive Power \| EMEA
Segment Reporting Information [Line Items]
Net sales	336,116	262,834
Operating earnings by segment	50,634	27,276
Restructuring charges	(8,533)	(762)
Specialty \| Asia
Segment Reporting Information [Line Items]
Net sales	107,571	88,703
Operating earnings by segment	10,992	5,246
Restructuring charges	$ 1,189	$ (113)

Subsequent Events - (Details)	Aug. 05, 2021 $ / shares
Subsequent Event
Subsequent Event [Line Items]
Common stock dividends (in dollars per share)	$ 0.175

Fair Value of Financial Instruments - (Financial Assets and Liabilities) (Details) - USD ($) $ in Thousands	Jul. 04, 2021	Mar. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative fair value	$ 3,961	$ (1,556)
Quoted Price in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative fair value	0	0
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative fair value	3,961	(1,556)
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative fair value	0	0
Lead forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative fair value	3,781	(1,980)
Lead forward contracts \| Quoted Price in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative fair value	0	0
Lead forward contracts \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative fair value	3,781	(1,980)
Lead forward contracts \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative fair value	0	0
Foreign currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative fair value	180	424
Foreign currency forward contracts \| Quoted Price in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative fair value	0	0
Foreign currency forward contracts \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative fair value	180	424
Foreign currency forward contracts \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative fair value	$ 0	$ 0